• The Australian dollar plunged to a near 11-year trough as a spike in coronavirus cases in several countries outside China heightened worries about a hit to global economic growth.
   
• Italy, South Korea and Iran all posted sharp rises in infections over the weekend. South Korea now has more than 600 cases, Italy more than 150 and Iran 43 cases.
   
• The Aussie was trading 0.5 percent down at 0.6593, having hit a low of 0.6584 earlier, its lowest since March 2009. 
   
• Technical indicators are bearish: RSI weak at 26, Stochs are at oversold levels and MACD supports downside.
   
• Immediate resistance is located at 0.6624 (23.6% retracement of 0.6750 and 0.6584), a break above could take it near 0.6648 (38.2% retracement). 
   
• On the downside, support is seen at 0.6565, a break below could drag it till 0.6527.