AUD/USD declines due to coronavirus pandemic

AUD/USD declines due to coronavirus pandemic

The coronavirus pandemic has already spread around the world. Despite all the efforts to eradicate the virus, it has not eased. It is affecting the world’s economy. Every country is suffering losses due to this pandemic. The AUD/USD pair is trading in the bearish channel and the nearest liquidity pool bellow the current price is 0.6435 and the 0.6314. The AUD/USD pair may reach both of these levels. There is a probability that the Aussie will retrace to 0.6512 level and then it may decline again. The overall bias for AUD/USD is bearish

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