AUD/USD has been restricted to 0.73 to 0.7420 range since June 27. Trade jitters mount ahead of a US move to impose $34 billion of tariffs on Chinese exports. The AUD/USD pair is reporting marginal gains in Asia amid rising fears of US-China trade war. The currency pair has been restricted to 0.73 to 0.7420 range since June 27 and could have a tough time scaling the upper end of the trading range as the markets are getting jittery ahead of a July 6 deadline when the United States is due to impose the tariffs on Chinese exports. China has assured that it will “absolutely not” fire the first shot in a trade war with the United States but has vowed to retaliate in kind if the US implements tariffs on $34 billion of Chinese imports on July 6. The fear of a full-blown trade war between the US and China could keep the AUD (a proxy for China) and CNY under pressure. That said, the AUD/USD technical set up is teasing a bullish break of the 0.73 – 0.7420 trading range. At press time, the currency pair is trading at 0.7382. AUD/USD Technical Levels Resistance: 0.7424 (July 4 high), 0.7450 (38.2% Fib R of June 6 high – July 2 low), 0.75 (50-day moving average). Support: 0.7367 (session low), 0.7327 (61.8% Fib R of Jan 2016 low – Jan 2018 high), 0.73 (psychological support). 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 NZD/USD Technical Analysis: Kiwi moving sideways as the pair struggles to pick a direction FX Street 3 years AUD/USD has been restricted to 0.73 to 0.7420 range since June 27. Trade jitters mount ahead of a US move to impose $34 billion of tariffs on Chinese exports. The AUD/USD pair is reporting marginal gains in Asia amid rising fears of US-China trade war. The currency pair has been restricted to 0.73 to 0.7420 range since June 27 and could have a tough time scaling the upper end of the trading range as the markets are getting jittery ahead of a July 6 deadline when the United States is due to impose the tariffs on Chinese exports. China has… Top 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.
