AUDUSD is bearish since the last RBA meeting. Today, RBA meeting minutes show bankers want more flexible weekly bond buying because of rising uncertainty. Daily new cases passed 100, way above the average since September. Rising cases cause more lockdowns and uncertainty about the economy. After breaking the neckline of the head and shoulders formation, 0.7575, AUDUSD is resuming its bearish look. Formation’s target is 0.7150 and can be reached if the dollar index continues to be bullish and Covid-19 cases remain high. For partial corrections, 0.7495 (green trend line) can be followed as a resistance.
