The Australian dollar has gone back and forth during the course of the trading week as we dance around the 200 week EMA again.
The Australian dollar has gone back and forth during the course of the trading session on Friday, as we continue to see that the market is cautious to say the least.
The Australian and New Zealand Dollars are trading lower on Friday, pressured by a drop in demand for higher risk currencies that is being fueled by a plunge in global equity markets. The Aussie and Kiwi are being underpinned, however, by a weaker U.S. Dollar. Meanwhile, the Covid situation in Australia is worsening, raising fears that the country will experience another virus-related contraction during the third quarter.