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April, 15 - AUD/USD slides below mid-0.6300s

The AUD/USD pair added to its Asian session losses

audusd15042020

and refreshed daily lows, below mid-0.6300s in the last hour. The pair stalled its recent bullish momentum to five-week tops and witnessed a sharp turnaround on Wednesday, snapping seven consecutive days of winning streak. The pair started retreating from the vicinity of mid-0.6400s and the downtick was sponsored by a goodish pickup in the US dollar demand.

Despite the latest optimism over a steady trend down in the new coronavirus cases and deaths across the world, investors remain concerned over the economic fallout from the pandemic. This eventually benefitted the USD's status as the global reserve currency and prompted some fresh selling around the major.

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