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AUD/USD tumbled 57 pips Friday amid a........>

AUSSIE
AUSSIE: AUD/USD tumbled 57 pips Friday amid a persistent worry re: novel
coronavirus & a generally positive (with caveats) U.S. NFP report. The rate
printed a new 11-year low of $0.6662.
- The pair trades marginally higher at $0.6676, but continues to hover just
above its multi-year lows. Early indicative trade saw AUD/USD show at $0.6660.
- With 11-year lows in sight, bears look for a fall through there before
targeting the trendline support at $0.6624. Bulls need a convincing rebound
above the $0.6774 to regain some momentum.
- Oz continues its struggle against extreme weather conditions. Intense rainfall
has helped reduce the number of bushfires, but created a heightened flood risk.
- Australian highlights this week include housing finance data and monthly NAB
Biz. Confidence, due Tuesday. RBA's Heath & Lowe will speak on Wednesday &
Thursday respectively. Worth watching today's inflation data out of China.

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