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FxWirePro: AUD/USD edges higher as U.S. economic worries weighs on greenback

• 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

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