Learn to Trade

Australia Eases Lockdown Restrictions 

By No Comments

Australia announced a further easing of control after recording no new infections for 23 consecutive days. 

The state’s Premier Daniel Andrews announced the new rules which will be mandated on Monday. The lock down will be eased after a three-month restriction in Melbourne, Australia. It will be no longer required to wear masks and face shields outdoors however it is still mandatory in public indoor venues and gatherings. 

Guests and other people will be allowed up to 15 visitors per household and may be increased by December 14, 2020 which will allow most families to spend their Christmas holidays as usual. 

Starting on Monday, gatherings in churches, recreation and sports, centers in pubs, restaurants and cinemas will be allowed. Offices will start gradually to transition back to work in offices. 

“Even though these rules are important changes, the virus is not gone,” Andrews told reporters in Melbourne on Sunday. “The key message is, Victorians have done an amazing job and build something that is so, so precious. But it is fragile.” 

Although the lockdowns are being eased, Australia still feels the impact of the outbreak. The government estimated about 1,200 jobs lost across the state during the lockdown period and demand for health services surged by 30%. 

Although there were no new infections, the virus still poses challenges in controlling it in some states in Australia including in the South of Australia. 

In New South Wales, the state government announced on Sunday it will ease border restrictions with neighboring Victoria on Monday. 

Virginia Australia Holdings Ltd. On Sunday said it will ramp up flight from Monday to reconnect Melbourne with other parts of Australia, including with the new South Wales capital city of Sydney.  

TECHNICAL OUTLOOK 

 

In the daily charts of AUD/USD, the pair edged up early Monday morning in Asia session. 

As what we can see in the daily charts, the Aussie dollar gained against the dollar and is currently supported at the support level at 0.72382. 

With the easing of lockdowns in most states in Australia, we may expect the Aussie dollar to have further strength against the US dollar and may surge higher in the coming weeks. The price may re-test the resistance level at 0.74129. 

However, if the price will breakdown from the 0.72382, we may expect the price to head lower and re-test the support level at 0.69952. 

Don’t forget to follow and subscribe for more updates about market trends, analysis, forex news, strategies and more!

 

Do you want to learn more about forex trading? Sign up now on our FREE forex webinar and reserve your FREE seats while it still lasts!

 

 

General Advice Warning  

Learn to Trade Pty Ltd (ACN:138178542, AFSL:339557) provides general information and educational courses and materials only. This is not an offer to buy/sell financial products. We do not provide personal advice nor do we consider the needs, objectives or circumstances of any individual.  Financial products are complex and all entail risk of loss. Over-the-counter derivative and foreign exchange products are considered speculative because they are highly leveraged and carry risk of loss beyond your initial investment, hence should only be traded with capital you can afford to lose. Please ensure you obtain professional advice to ensure trading or investing in any financial products is suitable for your circumstances, and ensure you obtain, read and understand any applicable offer document 

 

The information contained herein (“Content”) has been prepared and issued by Learn to Trade Pty Ltd (LTT), and all intellectual property relating to the Content vests with LTT unless otherwise noted. The Content is provided on an as is basis, without warranty (express or implied). Whilst the Content has been prepared with all reasonable care from sources we believe to be reliable, no responsibility or liability shall be accepted by LTT for any errors or omissions or misstatements howsoever caused. No guarantees or warranties regarding accuracy, completeness or fitness for purpose are provided by LTT, and under no circumstances will any of LTT, its officers, representatives, associates or agents be liable for any loss or damage, whether direct, incidental or consequential, caused by reliance on or use of the Content. 

 

 

You may also like to read:

Please Leave a Comment

Your email address will not be published. Required fields are marked *