AUD/USD fell to its lowest level in more.....>

AUSSIE: AUD/USD fell to its lowest level in more than a month on Tuesday, as

concern about the spread of China's coronavirus dented risk appetite. Following

a slide into the European morning, the rate staged a recovery amid a temporary

USD weakness, but failed to hold gains and retreated under previous lows.

- AUD/USD last trades flat at $0.6847, testing support from the 100-DMA at

$0.6844. A break here would clear the way to the low of Dec 10 at $0.6800. Worth

mentioning that the bearish case is supported by the apparent formation of a

head and shoulders top with neckline intersecting at $0.6856. Bulls still hope

for a jump back above $0.6856, which would expose the $0.6870 50-DMA.

- Australian gov't continues to face scrutiny over its handling of the bushfire

situation. FinMin Cormann admitted that its intensity may have been magnified by

climate change, but added that Australia "absolutely does its bit when it comes

to effective action on climate change."

- The focus turns to Westpac's Consumer Confidence Survey and skilled vacancies

data, due later today (the former hits at the bottom of the hour). The key

labour market report comes out on Thursday, while flash CBA PMIs hit on Friday.