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, AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani, Forex-News, Forex-News
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AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani

AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani

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, AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani, Forex-News, Forex-News

The AUD/USD (Australian dollar – US dollar) says goodbye to the week with sharp falls and backs down 0.55% to 0.6954, shaken by the defensive tone of the markets after the US government authorized the assassination of a high-ranking Iranian general.

The Australian dollar is considered a currency of risk, so it usually performs negatively in periods of turbulence and geopolitical instability, as is the case in the early stages of 2020.

On Thursday night, Donald Trump ordered an air strike in Baghdad to neutralize Qasem Soleimani, commander of the Quds Force of the Iranian Revolutionary Guards (IRGC). The bombing that killed one of the most important figures in the military structure of the Islamic nation has redoubled tensions, accelerating the crash path between Washington and Tehran.

If Iran decides to retaliate for the attack on Soleimani as promised, the situation could get out of control and lead to an open and unprecedented war in the Middle East. This scenario would have adverse effects for the most risky currencies such as AUD, NZD and emerging ones. For this reason, it is important to closely monitor the next steps of Tehran. These will determine the outcome of the new chapter of hostilities between the Trump administration and the Islamic regime.

, AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani, Forex-News, Forex-News

AUD / USD TECHNICAL ANALYSIS

With the falls of the last days, the AUD / USD is a short distance from a key support in the region of 0.6940 / 0.6930. If this support area is perforated in the next sessions, it is necessary to be prepared for a possible movement to the next floor near 0.6840.

In the event that the pair defies expectations and returns to the upward direction, the first resistance of relevance is located at the maximum of the previous month at 0.7032, a level where the 50% Fibonacci retracement of the December 2018 decline converges to October 2019. A rupture of this roof would expose the 0.7077.

AUD / USD TECHNICAL GRAPH

, AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani, Forex-News, Forex-News

, AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani, Forex-News, Forex-News

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, AUD/USD sinks in panic in the market after the assassination of Qasem Soleimani, Forex-News, Forex-News

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