Oil is testing support
The recovery of WTI last week met resistance in the 54.60 area. The price formed a gap down on the mounting fears about the coronavirus.
AUD/USD looks weak
Information is not investment advice
AUD/USD is rushing to the downside. The pair broke through the most important daily moving averages, slipped below the support at 0.6830 (October-November support line). This week opened with a gap down at 0.6808 (61.8% Fibo of the October-December advance). The technical picture looks bearish, so market players will likely use the price's attempts to recover to the 0.6810/30 area for selling. The downside targets lie in the 0.6755/50 area ahead of 0.6670.
Elizabeth Belugina
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