Australian Treasurer Frydenber: Victoria lockdown to have significant economic hit

The Australian Treasurer Frydenber has said that the economic impact from the Victoria lockdown will be greater.

Additional comments

• Victoria lockdown to have significant economic hit.
• Treasury working through extent of impact.

Market implications

Not good news for bulls while at the same time, the AUD is toppy on the charts, albeit holding above support structure.

Bears may look for a break and restest prior to fully committing. Otherwise, a continuation to the upside is on the cards:

• The Chart of the Week: AUD/USD toppy, H&S could be in the making