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FxWirePro: AUD/ USD downside pressure builds, key support level in focus

• AUD/USD edged lower on Tuesday as  dollar strengthened after President Donald Trump threatened to slap tariffs on a range of goods including copper and steel.

• In a speech to Republican lawmakers on Monday, Trump announced plans to impose tariffs on aluminum, copper, and steel  metals essential for producing U.S. military hardware  to encourage domestic production.

• Focus shifts to Australia's December and Q4 CPI releases on Wednesday, which is key for shaping expectations around the Reserve Bank of Australia’s rate decisions..

• At GMT 05:51, the pair   was trading  down 0.60%  at  0.6254

•  Immediate resistance is located at 0.6325(50%fib), any close above will push the pair towards 0.6390(61.8%fib).
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•  Support is seen at 0.6250(38.2%fib) and break below could take the pair towards 0.6166(23.6%fib).

 Recommendation: Good to sell around 0.6260 with stop loss of 0.6330 and target price of 0.6200
 

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