AUD/USD was rebuffed on a probe of the 50dma just below 0.7500 on the latest salvo in the US-China trade war, explains Sean Callow, Research Analyst at Westpac. Key Quotes “The Aussie’s sensitivity to this battle seems likely to help cap rallies multi-month, but in the week ahead, attention may wander, given that the public notice period on the $200bn runs through Aug.” “Australia’s domestic calendar shouldn’t hurt AUD much, with underlying job creation decent even if there is a surprise next week. This week’s consumer and business sentiment surveys were encouraging.” “Yet it is hard to avoid a downward bias for AUD/USD on the week, given the resilience of DXY and with our basket of Australia’s key commodity prices edging lower.” “As such, AUD/USD seems set to at least test the 18mth lows just above 0.73. A break might depend on trade news.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD tumbles to lows, below mid-1.3100s FX Street 5 years AUD/USD was rebuffed on a probe of the 50dma just below 0.7500 on the latest salvo in the US-China trade war, explains Sean Callow, Research Analyst at Westpac. Key Quotes "The Aussie's sensitivity to this battle seems likely to help cap rallies multi-month, but in the week ahead, attention may wander, given that the public notice period on the $200bn runs through Aug." "Australia's domestic calendar shouldn't hurt AUD much, with underlying job creation decent even if there is a surprise next week. This week's consumer and business sentiment surveys were encouraging." "Yet it is hard to avoid a downward… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
