AUD/USD below 0.65 as coronavirus fears weigh on markets

Yohay Elam FXStreet

AUD/USD has dropped below 0.65, hitting the lowest levels since 2009. The stock market sell-off extends as the coronavirus outbreak spreads. Risk assets such as the Australian dollar are coming under pressure.

The Aussie has come under pressure after its neighbor New Zealand reported its first coronavirus case early on Friday. Scott Morrison, Australia's Prime Minister, previously said that the respiratory disease will likely turn into a pandemic.

The daily chart is showing the rapid decline of AUD/USD since it fell below the 0.6660 level earlier this month.

more to come

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

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