AUD/USD Outlook (14th May 2019)

• China retaliates
  
• AUD/USD testing support level
  

Price Movement
Since yesterday, AUD/USD moved down by around 40pips before moving back up by around 20pips.

Trend
AUD/USD is trending downwards.

Important Issue
Yesterday, China retaliated to U.S.’ tariff action by announcing that it will raise tariffs on U.S. goods starting from 1st June.

Technical
AUD/USD is testing the support level of 0.69573.

Price Levels
Current Price: 0.69586
Next Resistance: 0.70650
Next Support: 0.69573