Failed break looms large
To me this remains the chart to watch. The 200-day moving average has been a huge resistance band in AUD/USD and it looked like it was going to break on Thursday before the disappointing details of the US-China trade deal.
It's now about 60 pips from the level but there's still a clear series of higher lows from the bottom.
I see this chart as a barometer for the entire global growth trade. If there's a shift out of US dollar this pair is particularly well-positioned to rally. For now though, it's a waiting game.
