FxWirePro: AUD/USD eases as geopolitical tensions weigh on sentiment

• AUD/USD eased slightly on Monday as persistent conflict between Israel and Iran kept risk appetite in check.

• Israel and Iran exchanged new strikes on Sunday, causing civilian casualties and raising fears of wider conflict, as both sides warned civilians to stay cautious..

•On the data front, Australia will publish monthly jobs figures on Thursday where expectations are for a gain of 25,000 jobs in May and a steady jobless rate of 4.1%.

• The labour market’s resilience means another strong report could challenge the 75% market odds of a rate cut next month.

•At GMT 04:53, the Australian dollar was trading down 0.10% at 0.6477 against greenback   .

•  Immediate resistance is located at 0.6537(23.6%fib), any close above will push the pair towards 0.6566(Higher BB).

•  Support is seen at 0.6481 (38.2%fib) and break below could take the pair towards 0.6281(LowerBB).

 Recommendation: Good to buy around 0.6460 with stop loss of 0.6360  and target price of 0.6580