News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here:
  • Dealing with the fear of missing out – or FOMO – is a highly valuable skill for traders. Not only can FOMO have a negative emotional impact, it can cloud judgment and overshadow logic. Learn how you can control FOMO in your trading here:
  • Bitcoin (BTC) started the day on the front foot on the Twitter news before the latest China crypto ban hammered the market lower. Get your weekly crypto forecast from @nickcawley1 here:
  • Greed is a natural human emotion that affects individuals to varying degrees. Unfortunately, when viewed in the context of trading, greed has proven to be a hindrance more often than it has assisted traders. Learn how to control greed in trading here:
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here:
  • The US Dollar continues to push higher against ASEAN currencies after the FOMC rate decision. This leaves the USD/SGD, USD/THB, USD/PHP and USD/IDR outlook mostly tilted higher. Get your market update from @ddubrovskyFX here:
  • The US Dollar seems to be back on the offensive against its major counterparts, pressuring EUR/USD and NZD/USD lower as USD/JPY consolidates. USD/CHF surges past key resistance. Get your market update from @ddubrovskyFX here:
  • The Japanese Yen remains in focus with strength potential on risk aversion themes to go along with weakness on themes around higher rates. Get your weekly $JPY technical forecast from @JStanleyFX here:
  • Google finance-related search interest in 'Evergrande' has almost overtaken 'Covid'. 'Taper' doesn't even register on the scale
  • Gold prices gain as potential systemic risks out of China's Evergrande Group roil broader markets. Meanwhile, iron ore is ticking higher after a big drop on Monday as China steps up steelmaking curbs. Get your market update from @FxWestwater here:
Australian Dollar at Tipping Point as US-China Tensions Heat Up?

Australian Dollar at Tipping Point as US-China Tensions Heat Up?

Daniel Dubrovsky, Strategist

Australian Dollar, AUD/USD, US-China Tensions, Trade War Fears – Asia Pacific Market Open

  • Australian Dollar struggles at resistance after risk aversion sank stocks
  • US-China tensions may have fueled trade war fears as US Dollar rose
  • Japanese Yen may rise if Asia Pacific stocks fall, eyeing BoJ meeting

The sentiment-linked Australian Dollar aimed cautiously lower Thursday amid a deterioration in market mood. By Wall Street close, the Dow Jones and S&P 500 wrapped up -0.41% and -0.78% respectively. This is as the haven-oriented US Dollar and similarly-behaving Japanese Yen outperformed their major counterparts. Anti-fiat gold prices fell 1.20%, the most in 3 weeks amid a stronger Greenback.

Risk aversion gathered momentum early on during the Asia Pacific trading session. This is as US President Donald Trump dialed up criticism against China for a “disinformation and propaganda attack on the United States and Europe”. Trump has expressed his dissatisfaction with how China handled the coronavirus outbreak, hinting at using tariffs in response.

That has brought back fears of a US-China trade war which were underscored during the North American trading session. In response to Trump, China said that the nation will “safeguard sovereignty, security and interests”. According to AFP News Agency, China threatened ‘countermeasures’ in response to US coronavirus sanction threats. Stocks declined following these developments.

Develop the discipline and objectivity you need to improve your approach to trading consistently

Friday’s Asia Pacific Trading Session

Asia Pacific equities could follow the pessimistic lead from Wall Street. That may bode ill for the Australian Dollar while benefiting the Japanese Yen and US Dollar. There is an emergency Bank of Japan (BOJ) meeting scheduled at 00:00 GMT. The central bank is not expected to adjust its main policy tools. Markets seem to be eyeing measures to help support small businesses. With that in mind, the Yen may look past the BoJ and focus on the broader trajectory in market mood over the remaining 24 hours.

Australian Dollar Technical Analysis

The AUD/USD is struggling to find follow-through after prices attempted to push above key resistance (0.6546 – 0.6570). This area was established after prices found a top in late April. Since then, negative RSI divergence has emerged. This is a sign of fading upside momentum which can at times precede a turn lower. Such an outcome could place the focus on support below at 0.6469.

AUD/USD – Daily Chart

Australian Dollar at Tipping Point as US-China Tensions Heat Up?

Chart Created in TradingView

--- Written by Daniel Dubrovsky, Currency Analyst for

To contact Daniel, use the comments section below or @ddubrovskyFX on Twitter

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.