Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: AUD/USD edges down as markets react to trade tensions

• AUD/USD dipped on Thursday as global trade tensions fueled risk aversion, weighing on the risk-sensitive Australian dollar.

• President Trump threatened new tariffs on EU goods Wednesday, as key U.S. trading partners vowed retaliation against his existing trade barriers.

• Rising global trade tensions and U.S. recession fears have shaken markets, fueling high volatility in market as investors react to Trump's unpredictable policy shifts.

• At GMT 05:47, The Australian dollar  was last  trading down  0.20% to $0.6301.

•  Immediate resistance is located at 0.6324(50%fib), any close above will push the pair towards 0.6368(61.8%fib).

•  Support is seen at 0.6243 (38.2%fib) and break below could take the pair towards 0.6182(Lower BB).

 Recommendation: Good to buy around 0.6280, with stop loss of 0.6200 and target price of 0.6320
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.