Aussie continues to face headwinds at 0.70 zone; RBA minutes on Tuesday in focus
The Australian dollar holds positive tone but faces difficulties to clearly 0.70 barrier and stays within narrowing range around 0.70 for the fourth day.
Global rise in new coronavirus cases that fuels uncertainty and fades optimism for global recovery, hits risk sentiment and slows Aussie’s advance.
Rising thick daily cloud and Tenkan-sen / Kijun-sen in bullish setup underpin the action, but fading positive momentum presents the obstacle that causes strong headwinds at 0.70 zone.
Traders focus on RBA minutes and speech of central bank’s Governor Lowe, due early tomorrow, for fresh signals.
Res: 0.7004; 0.7013; 0.7037; 0.7064
Sup: 0.6972; 0.6938; 0.6921; 0.6907