Sydney Lockdown and the impact on AUDUSD

Looking at the daily chart we see that the AUDUSD pair is still in the 0.74000-0.75000 zone. Now a lot of pressure on the line of support, and the question is whether it will endure.

The opportunity of an extended lockdown in Sydney, Australia, appeared today after health workers reported another record growth in the number of new cases of covid-19 this year, behind which stands the highly contagious delta strain. The officials of New South Wales announced today that it had discovered 112 new, local cases of covid-19. Almost all are in Sydney, despite the fact that the largest city in the country entered the third week of lockdown, Reuters reported.

The Prime Minister of New South Wales, Gladys Bereciklian, said that the number of cases in the coming days would determine whether the lockdown in Sydney, which should end on Friday, will be extended. The total number of infections is approaching 700, less than a month after the first infection was discovered in mid-June. There are 63 people in the hospital, 18 of them in the intensive care unit, and a woman in the 1990s is the first victim of covid-19 this year in that state. Restrictive measures for Sydney with five million inhabitants, including closing schools, staying at home, raised concerns raised concerns about the probability of a slowdown in the economy, which returned to pre-pandemic levels in the first quarter of the year.

Chinese authorities in the southeastern province of Yunnan today confirmed nine new local cases of covid-19 infection in 24 hours, seven of which were discovered in the city of Ruili on the border with Myanmar, which is now banned from entering and leaving without special permission. It is a slight decline compared to Saturday because 12 local cases were recorded two days ago, Reuters reported. Of the nine new cases, two are asymptomatic, Yunnan authorities added. Yunnan recently noticed an increase in cases, so citizens are forbidden to go out or enter Ruila without a special permit. More inclusive closure of Chinese cities could also negatively affect AUDUSD.

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