The Australian dollar fell on fears of trade wars and ahead of the Fed decision. The upcoming week features important events from Australia: the jobs report and also the RBA meeting minutes. Will the pair recover? Here are the highlights of the week and an updated technical analysis for AUD/USD.
Chinese industrial output rose by 7.2% in February, much better than expected and an encouraging sign for Australia. However, Trump’s ongoing push for tariffs and the fear of trade wars weighed on the Australian dollar, a risk asset. The upcoming Fed decision also pushed the greenback higher.
AUD/USD daily graph with support and resistance lines on it. Click to enlarge: