The Australian dollar to US dollar exchange rate is seen easing

As of writing, the Australian dollar to US dollar exchange rate is seen easing as Australia sees more new coronavirus cases. The US dollar appears to have dominance this Friday over the direction of the pair. However, the tides are still widely expected to turn in favor of bulls and the pair remains on track to reach level last seen in early 2019. Looking at the charts, the bears are clearly struggling to break the resistance-turned-support level, and this suggests that the US dollar does not have enough strength to pull the Australian dollar. Another factor that’s causing the Aussie to weaken this Friday is the risk aversion in the global market. Just recently, Australia announced that it will be cutting citizens returning to the country by half as its struggles to contain the resurgence of new confirmed infections. Starting next week, the country will only allow 4,000 citizens to return to the country each day, down from the current limit of 8,000 per day.