• AUD/USD edged higher on Monday as the U.S. dollar weakened amid growing concerns over a slowing U.S. economy and escalating global trade tensions.
• Investors remain wary of tariffs, fearing they could weaken economic growth and fuel inflationary pressures.
• U.S. consumer inflation data, set for release on Wednesday, will be closely watched as it could impact market expectations for potential Federal Reserve rate cuts.
• At GMT 05:32, The Australian dollar was last trading up 0.14% to $0.6312.
• Immediate resistance is located at 0.6347 (61.8%fib), any close above will push the pair towards 0.6415(Higher BB).
• Support is seen at 0.6273 (50%fib) and break below could take the pair towards 0.6220(Lower BB).
Recommendation: Good to buy around 0.6300, with stop loss of 0.6200 and target price of 0.6380
