Trump says “We are going to make great deals on trade”, Aussie jumps to 0.7090

Dhwani Mehta FXStreet

While addressing a rally of supporters in Texas on Tuesday, the US President Trump made some positive comments on the US-China trade issue, lifting the risk sentiment across the board.

Trump noted that “We are going to make great deals on trade.”

“We don't want China to have a hard time”, he added.

On North Korea, Trump noted: `Hopefully' will do as well on second Kim meet as first.

On Trump’s comments, the AUD – the Chinese proxy, saw a fresh leg higher, driving the AUD/USD pair from near 0.7075 levels to refresh daily tops at 0.7088.

At the press time, the spot remains at a striking distance of the daily tops, up +0.35% on the day. The sentiment around the Aussie continues to remain underpinned by the above-forecast NAB business confidence and condition numbers.

AUD/USD Technical Levels

Overview:
    Today Last Price: 0.7084
    Today Daily change: 20 pips
    Today Daily change %: 0.28%
    Today Daily Open: 0.7064
Trends:
    Daily SMA20: 0.7168
    Daily SMA50: 0.7151
    Daily SMA100: 0.7167
    Daily SMA200: 0.728
Levels:
    Previous Daily High: 0.7109
    Previous Daily Low: 0.7057
    Previous Weekly High: 0.7265
    Previous Weekly Low: 0.706
    Previous Monthly High: 0.7296
    Previous Monthly Low: 0.6684
    Daily Fibonacci 38.2%: 0.7077
    Daily Fibonacci 61.8%: 0.7089
    Daily Pivot Point S1: 0.7044
    Daily Pivot Point S2: 0.7025
    Daily Pivot Point S3: 0.6992
    Daily Pivot Point R1: 0.7096
    Daily Pivot Point R2: 0.7129
    Daily Pivot Point R3: 0.7148

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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