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Ali Farhad

AUD/USD

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I definitely believe we can see this pair continue to drop further. we have just seen it break down from a small consolidation and I think there is further downside to come just due to the slowdown due to the effects of the virus on the global economy. 

This should have a big impact on the Aussie economy due to the trade links between them and China.

However, saying that, I do think the selloff is a little overstretched and we may see a pullback before further downside. I would be reluctant to say we could reach 0.50 at this point. 

 

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