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FxWirePro: AUD/ USD drifts lower as Trump tariffs underpin the U.S. dollar

• AUD/ USD eased   on Tuesday   as dollar gained traction after Donald trump vowed to impose additional tariffs on against Mexco,Canada and China .

• Trump pledged a 25% tariff on all products from Mexico and Canada from his first day in office, and an additional 10% tariff on goods from China.

.• Looking ahead, Australia will release the monthly inflation data for October just before the RBNZ rate decision.

• At GMT 06:12, The Aussie was trading   down  0.19% at 0.6518   .

•  Immediate resistance is located at 0.6513 (38.2%fib), any close above will push the pair towards 0.6575(50%fib).

•  Support is seen at 0.6436 (23.6%fib) and break below could take the pair towards 0.6402(Lower BB).

 Recommendation: Good to sell around 0.6500, with stop loss of 0.6580  and target price of 0.6410.

 

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