AUD/USD dips as escalating tensions between the US and China put a bid under the US dollar. AUD/USD remains trapped in a contracting triangle on the daily chart. AUD/USD is feeling the pull of gravity amid escalating tensions between the US and China and the US and World Health Organization (WHO). The currency pair is trading at 0.6515 at press time, representing marginal losses on the day, having hit a high of 0.6552 early Tuesday. The editor-in-chief of China’s Global Times accused President Trump of ‘witchcraft’ for using hydroxychloroquine for treating coronavirus. Meanwhile, President Trump threatened to permanently freeze funding to WHO if the global body does not commit to major substantive improvements within the next 30 days. While the Aussie dollar has pulled back from session highs, the immediate bias for the outlook remains neutral. This is because the pair is trapped in a narrowing price represented by trendlines connecting April 30 and May 11 highs and May 4 and May 15 lows. A range breakdown, if and when confirmed, the bias would turn bearish. Alternatively, a breakout would imply a continuation of the rally from lows below 0.55 observed in March. Daily chart Trend: Neutral Technical levels 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 Anthony Pompliano stands by his prediction of BTC prices hitting $100,000 by 2021 FX Street 2 years AUD/USD dips as escalating tensions between the US and China put a bid under the US dollar. AUD/USD remains trapped in a contracting triangle on the daily chart. AUD/USD is feeling the pull of gravity amid escalating tensions between the US and China and the US and World Health Organization (WHO). The currency pair is trading at 0.6515 at press time, representing marginal losses on the day, having hit a high of 0.6552 early Tuesday. The editor-in-chief of China's Global Times accused President Trump of 'witchcraft' for using hydroxychloroquine for treating coronavirus. Meanwhile, President Trump threatened to permanently freeze funding… 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.
