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21 February 2025,02:30
Trade Of The Day
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21 February 2025, 02:30
* Trade Talks: The Australian dollar has gained against the U.S. dollar after President Donald Trump hinted at a potential trade agreement with China. Recent developments indicate a possible reduction in U.S.-China trade tensions. On Thursday, Trump expressed confidence in a deal, stating it remains “possible” despite ongoing disagreements. He also mentioned the possibility of a visit from Chinese President Xi Jinping, though no timeline was provided. Meanwhile, Beijing emphasized the need for “mutual respect” in trade talks, reaffirming its commitment to fair negotiations. Given Australia’s strong trade relationship with China, this optimism has boosted market sentiment toward the Australian dollar.
* Technical Breakout: AUDUSD was traded higher following prior breakout above the previous resistance level 0.63800. MACD which illustrate bullish momentum signal with the formation of golden cross suggest the pair to likely extend its gains.
* Resistance and Support: If the bullish momentum persists, there’s a strong likelihood that the price will potentially head towards the level 0.65400. Conversely, a potential reversal is also to be expected and the price could head back towards 0.62200 after it breach back below the level 0.63800.
Looking ahead, traders will focus on data from the U.S which includes S&P Global Manufacturing and Services PMI, and speeches from U.S. President Donald Trump.
Learn more about how to navigate the prop trading landscape by checking out PU Xtrader’s trading blogs.
Stay updated on US and Australia data, global market updates, central bank updates and any shifts in the US Dollar’s strength by following PU Xtrader’s financial news page.
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28 February 2025, 02:09 Euro Declines Under Tariff Pressure
27 February 2025, 02:33 Gold Declines as Geopolitical Tension Fears Ease
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