AUDUSD - ENTRY
03/04/2025
INVERSE HEAD AND SHOULDERS
FIB 78.6
CLEAN BULLISH WICK 3PIN
AUD/USD trades in negative territory near 0.6280 in Thursday’s early Asian session.
China will face a 54% tariff under the new Trump policy, weighing on the Aussie.
China’s Caixin Services PMI climbed to 51.9 in March, stronger than expected.
The AUD/USD pair remains under selling pressure around 0.6280 during the early Asian session on Thursday. The Australian Dollar (AUD) pares losses against the Greenback after the stronger Chinese economic data. However, the upside might be limited as US President Donald Trump announced sweeping global reciprocal tariffs, prompting traders to turn cautious.
The Trump administration on Wednesday announced that the US will impose a 10% baseline tariff on all imports to the United States (USD) and slap additional duties on around 60 nations with the largest trade imbalances with the US. China was hit hard, facing a tariff of at least 54% on many goods. The policy announcement prompted traders to go into risk-off mode and exert some selling pressure on the Aussie as China is a major trading partner to Australia.
03/04/2025
INVERSE HEAD AND SHOULDERS
FIB 78.6
CLEAN BULLISH WICK 3PIN
AUD/USD trades in negative territory near 0.6280 in Thursday’s early Asian session.
China will face a 54% tariff under the new Trump policy, weighing on the Aussie.
China’s Caixin Services PMI climbed to 51.9 in March, stronger than expected.
The AUD/USD pair remains under selling pressure around 0.6280 during the early Asian session on Thursday. The Australian Dollar (AUD) pares losses against the Greenback after the stronger Chinese economic data. However, the upside might be limited as US President Donald Trump announced sweeping global reciprocal tariffs, prompting traders to turn cautious.
The Trump administration on Wednesday announced that the US will impose a 10% baseline tariff on all imports to the United States (USD) and slap additional duties on around 60 nations with the largest trade imbalances with the US. China was hit hard, facing a tariff of at least 54% on many goods. The policy announcement prompted traders to go into risk-off mode and exert some selling pressure on the Aussie as China is a major trading partner to Australia.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.