Technical Analysis

AUD traders heads up – widespread flood damage in Australia

There is ongoing flooding in Australia, particularly in the southern state of Victoria.

I’m posting this in case media headlines grab the attention of AUD traders.

Victoria is Australia’s second-most populous state and home to Australia’s second-largest (population) city of Melbourne (behind Sydney, but not by many).

While not downplaying the flooding, its caused widespread damage and even fatalities, the main impacts are outside of the capital city (and home to most of the state’s industry). Its not a positive for the AUD, but its not a notable negative either (again, not downplaying the impact on those hit by floods).

AUD/USD update:

Clean-up and repair (roads and bridges mainly at this stage) efforts have already swung into gear even as floods are ongoing.

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