AUD/USD dead cat bounce
The Australian dollar attempted to reenter the 30 minutes prise channel failed after falling to 0.66035 during today's it's opening trades. The Australian dollar is still in a pullback zone as highlighted in the price chart, and I don't expect to see a quick recovery given the impact of the coronavirus which is affecting its biggest trade partner. Another factor to consider is the recent release of weak employment and economic data which could continue to have a short to medium-term impact on the Aussie dollar.
Critical resistance price level to watch is estimated around 0.66125, 0.66330, 0.66460, and 0.66665.
Support is at around 0.65795
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