19.11 - The AUD/USD pair traded with a negative bias
- by George Solotarov
The AUD/USD pair traded with a negative bias through the Asian session and was last seen hovering near the lower end of its daily range, just below the 0.7300 mark. Having struggled to capitalize on the previous day's bounce of around 60 pips. the pair met with some fresh supply on Thursday. The US dollar witnessed a modest short-covering move during the first half of the trading action on Thursday and was seen as a key factor exerting some pressure on the AUD/USD pair.
Despite optimism over a potential vaccine for the highly contagious coronavirus disease, investors remain concerned about the economic fallout from the imposition of new restrictions in several US states. This, in turn, fueled expectations of further stimulus from the Fed, which should hold the USD bulls from placing aggressive bets.