As explained in the pre-Reserve Bank of Australia note, A covid-tantrum on the cards for today's RBA, the RBA indeed state don the cautious side pertaining to the rapid spread of the Delta variant in Australia.
In technical analysis, it was stated that ''the price is on course for a restest of the 38.2% Fibo or a possible run down to the 50% ratio if bulls do not commit at this juncture.''
AUD/USD prior technical analysis
This is where we are today, touching the 50% mean reversion as forecasted above in the prior analysis:
The situation in Australia is a touch better today according to the latest data numbers, slightly down in Vicotria:
Victoria has recorded 221 new cases of the coronavirus today.
Of today's new infections, 98 have so far been linked to known cases and outbreaks.
Reported yesterday: 221 new local cases and 0 new cases acquired overseas.
– 36,716 vaccine doses were administered
– 42,429 test results were receivedMore later: https://t.co/lIUrl1hf3W#COVID19Vic #COVID19VicData [1/2] pic.twitter.com/iEdGj4Sr1U
— VicGovDH (@VicGovDH) September 7, 2021
