empty
 
 

2020.09.2114:46:00UTC+00Australian, NZ Dollars Drop Against Majors

The Australian and NZ dollars weakened against their major counterparts in the European session on Monday, as a surge in coronavirus cases across Europe triggered fears over another lockdown.

Authorities have imposed restrictions in various parts of Europe to contain outbreaks of infection. Parts of northern England and areas of Spain's capital are facing restrictions.

Oil prices fell, hurt by the possible return of Libyan production and as surging COVID-19 cases stoked demand worries.

The aussie fell to 6-day lows of 1.6272 against the euro and 0.9591 versus the loonie, from its early high of 1.6193 and a 4-day high of 0.9656, respectively.

Pulling away from its prior highs of 0.7324 against the greenback and 76.39 against the yen, the aussie slid to near a 2-week low of 0.7225 and a 1-1/2-month low of 75.37, respectively.

Versus the yen, the NZ currency hit near a 4-week low of 69.59, after rallying to 70.79 at 9:15 pm ET.

The kiwi eased off from its early highs of 0.6778 against the greenback, 1.7480 against the euro and 1.0772 against the aussie, reaching 4-day lows of 0.6675, 1.7614 and 1.0836, respectively.

The next possible support for the aussise is seen around 1.66 against the euro, 0.94 versus the loonie, 0.70 against the greenback and 74.00 against the yen. The kiwi is seen testing support around 0.64 against the greenback, 1.78 against the euro, 68.00 against the yen and 1.10 against the aussie.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback