FxWirePro: AUD/USD bulls loosen their grip a bit, dips to be bought

•  AUD/USD eased slightly on Tuesday as U.S. fiscal concerns and ongoing trade deal uncertainty weighed on market sentiment.

• Investors face uncertainty over the U.S. Senate's push to pass Trump's tax-cut and spending bill, amid party divisions over its projected $3.3 trillion debt impact.

• Trump’s looming tariff deadline is driving investor focus on trade diplomacy, although negotiations have yielded limited results.

•On the economic front, Growth in Australia’s manufacturing sector cooled in June, as the PMI ticked down to 50.6 from 51.0, S&P Global reported.

• Looking ahead, Australian retail sales data is due Wednesday, forecasts point to a 0.3% increase, but bank analysts see room for a stronger number.

•  Immediate resistance is located at 0.6643(Nov 4th high), any close above will push the pair towards 0.6696(23.6%fib).

•  Support is seen at 0.6557(38.2%fib) and break below could take the pair towards 0.6517(SMA 9).

 Recommendation: Good to buy  around 0.6570 with stop loss of 0.6490 and target price of 0.6670