AUD/USD Falls To New Session Low Of 0.6526 As Traders Await China Trade Data

AUD/USD is again under selling pressure and has eroded some of the overnight gains.

Spot prices were dragged lower by fewer bets on rate cuts from the Federal Reserve and geopolitical support for the dollar.

Chinese trade data, U.S. consumer confidence and Fed speeches will bring new impetus to the market.

AUD/USD encountered fresh supply during Friday’s Asian session and gave back some of the previous day’s gains from the psychological 0.6500 mark. Spot prices are currently trading around the 0.6530-0.6525 range, but the downside appears to be easing amid mixed fundamental clues.

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