Aussie back on the rise as the USD recedes, giving risk assets some breathing room. Friday’s China trade figures will be the key to finishing the week strong. The AUD/USD is back into the 0.7400 key level heading into Friday’s markets after slumping through the mid-week on the back of rising trade tensions between the US and China. The broad-market surge in the USD saw metals taking a header, driving the Aussie down to bottom out at 0.7360 on Thursday. The Greenback has stepped back as China strikes an unexpectedly reconciliatory tone towards the US, urging the Trump administration to pursue bilateral trade talks, and a softer-than-expected reading of the US CPI further weakened the USD’s base heading into Friday. Friday sees China’s Trade Balance figures, and traders will be paying close attention to China’s Import and Export figures as the US-China trade war begins to ramp up. AUD/USD Technical Analysis The Aussie has recovered around 60% of the latest bearish drop, a key pullback level that may leave the AUD/USD exposed to further declines if bears step in, while bulls will be looking to defend the newly-reclaimed 0.7400 handle. Spot rate: 0.7404 Relative change: Negligible High: 0.7407 Low: 0.7400 Trend: Bullish Support 1: 0.7400 (major technical level) Support 2: 0.7364 (June 28th swing high) Support 3: 0.7310 (current 2018 low) Resistance 1: 0.7442 (June 25th swing high) Resistance 2: 0.7494 (50-day SMA) Resistance 3: 0.7600 (major technical level) AUD/USD Chart, 15-Minute 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 Focus is on Monetary Policy Report for the greenback – TDS FX Street 5 years Aussie back on the rise as the USD recedes, giving risk assets some breathing room. Friday's China trade figures will be the key to finishing the week strong. The AUD/USD is back into the 0.7400 key level heading into Friday's markets after slumping through the mid-week on the back of rising trade tensions between the US and China. The broad-market surge in the USD saw metals taking a header, driving the Aussie down to bottom out at 0.7360 on Thursday. The Greenback has stepped back as China strikes an unexpectedly reconciliatory tone towards the US, urging the Trump administration… 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.
