“¢  Persistent USD selling helps regain positive traction on the last trading day of the week.   “¢  Trade-war fears/slump in copper prices did little to hinder the positive momentum.   “¢  Incoming trade-related headlines might continue to infuse volatility ahead of NFP. The AUD/USD pair regained positive traction on Friday and is now making a fresh attempt to build on the positive momentum beyond the 0.7400 handle.  Despite Thursday’s upbeat US ISM non-manufacturing PMI and the latest FOMC meeting minutes, which reaffirmed prospects for a gradual Fed monetary policy tightening cycle, the US Dollar struggled to build on overnight modest rebound from over one-week lows and turned out to be one of the key factors helping the pair to catch some fresh bids during the Asian session.  With the new US tariffs on $34 billion worth of Chinese imports coming into effect from 0400 GMT, news of subsequent retaliatory measures by China added to fears about a full-blown US-China trade war but did little to prompt any fresh selling around the China-proxy Australian Dollar. Traders even shrugged off the ongoing slump in copper prices, which tends to undermine demand for the commodity-linked Australian Dollar, with the USD price dynamics turning out to be an exclusive driver of the ongoing positive momentum.  Market participants now turn their attention to the closely-watched US monthly jobs report – popularly known as NFP, which along with any fresh incoming trade-related headline might continue to infuse some volatility across global financial markets and eventually provide some meaningful trading opportunities. Technical levels to watch Immediate resistance is pegged near the 0.7425 region (weekly top), above which the pair is likely to aim towards reclaiming the key 0.7500 psychological mark with some intermediate resistance near the 0.7475-80 zone. On the flip side, the 0.7380 area now seems to have emerged as an immediate support, which if broken might turn the pair vulnerable to head back towards 0.7335 intermediate support en-route the 0.7300 handle.  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 US-Sino trade war is now official – Danske Bank FX Street 4 years   "¢  Persistent USD selling helps regain positive traction on the last trading day of the week.   "¢  Trade-war fears/slump in copper prices did little to hinder the positive momentum.   "¢  Incoming trade-related headlines might continue to infuse volatility ahead of NFP. The AUD/USD pair regained positive traction on Friday and is now making a fresh attempt to build on the positive momentum beyond the 0.7400 handle.  Despite Thursday's upbeat US ISM non-manufacturing PMI and the latest FOMC meeting minutes, which reaffirmed prospects for a gradual Fed monetary policy tightening cycle, the US Dollar… 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.