Secret modelling reveals COVID-19 cases peak still weeks away - The Australian

Ross J Burland FXStreet

The Australian reports that Victorians face weeks of higher coronavirus infections, with average daily cases to peak at 1100 by the end of next week and staying above 1000 for eight days.

The Victorian government’s own estimates, obtained by The Australian, show the average number of new cases is not expected to decline until the last week of August.

This news follows Wednesday's shocking numbers which marked Victoria’s the most devastating day of Covid-19 cases and deaths.

There were 725 new cases of the virus identified.

AUD/USD, however, has defied gravity under the circumstances and printed a fresh high yesterday.

AUD does a good job of capitalising on renewed USD weakness and the surges in gold.

AUD/USD rose from 0.7175 to 0.7241 – an 18-month high – before slipping back to 0.7195.

From the charts, the head and shoulders has been invalidated by the fresh highs on dollar weakness, although a restest of 0.7150 prior to fresh upside could be the price action's next port of call.

AUD/USD daily chart

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD looks weak below 1.1800

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