“¢ Renewed uncertainty over US-China trade negotiations weighs on Aussie. “¢ Disappointing Chinese manufacturing PMI adds to the selling pressure. “¢ Subdued USD demand helped limit the downside ahead of US macro data. The AUD/USD pair faded an early Asian spike to a session high level of 0.7166 and is currently placed at the lower end of its daily trading range. Against the backdrop of Wednesday’s not so optimistic trade-related comments by the US Trade Representative Robert Lighthizer, the pair was further weighed down by today’s weaker than expected Chinese manufacturing PMI print for February. In his testimony to House Ways and Means Committee on Wednesday, Lighthizer said that it was too early to predict an outcome in U.S.-China trade negotiation and exerted some fresh downward pressure on the China-proxy Australian Dollar. Meanwhile, dismal Chinese manufacturing data provided further evidence that US-Sino trade dispute was taking a toll on the global economic growth, which along with escalating geopolitical tensions between India and Pakistan further collaborated towards driving flows away from perceived riskier currencies – like the Aussie. A fresh wave of global risk-aversion trade was evident from a sharp fall in the US Treasury bond yields, which failed to assist the US Dollar to build on the overnight bounce from three-week lows and helped limit deeper losses, at least for the time being. It, however, remains to be seen if the pair is able to attract any buying interest or continues with its lacklustre trading action as the focus now shifts to the US economic docket, highlighting the release of advance US Q4 GDP growth figures. This coupled with the release of the Fed’s preferred measure of inflation – core PCE, and other second-tier US economic data might influence the USD price dynamics and further collaborate towards producing some meaningful trading opportunities later during the early North-American session. Technical levels to watch AUD/USD Overview: Today Last Price: 0.7142 Today Daily change %: 0.06% Today Daily Open: 0.7138 Trends: Daily SMA20: 0.7149 Daily SMA50: 0.7133 Daily SMA100: 0.7165 Daily SMA200: 0.7257 Levels: Previous Daily High: 0.7199 Previous Daily Low: 0.7127 Previous Weekly High: 0.7207 Previous Weekly Low: 0.707 Previous Monthly High: 0.7296 Previous Monthly Low: 0.6684 Daily Fibonacci 38.2%: 0.7155 Daily Fibonacci 61.8%: 0.7172 Daily Pivot Point S1: 0.711 Daily Pivot Point S2: 0.7083 Daily Pivot Point S3: 0.7039 Daily Pivot Point R1: 0.7182 Daily Pivot Point R2: 0.7226 Daily Pivot Point R3: 0.7254 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 Ripple overview: In 2025 XRP will be used by all Japanese banks – CEO of SBI Group FX Street 4 years "¢ Renewed uncertainty over US-China trade negotiations weighs on Aussie. "¢ Disappointing Chinese manufacturing PMI adds to the selling pressure. "¢ Subdued USD demand helped limit the downside ahead of US macro data. The AUD/USD pair faded an early Asian spike to a session high level of 0.7166 and is currently placed at the lower end of its daily trading range. Against the backdrop of Wednesday's not so optimistic trade-related comments by the US Trade Representative Robert Lighthizer, the pair was further weighed down by today's weaker than expected Chinese manufacturing PMI print for… 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.