• AUD/USD edged lower on Friday as the dollar strengthened on softening in the White House's stance toward China.
• After tit-for-tat tariffs effectively halted trade between the world’s two largest economies, the U.S. this week struck a more conciliatory tone, acknowledging the situation was unsustainable.
• China’s commerce ministry urged the U.S. to demonstrate sincerity in settling the trade conflict by scrapping its unilateral tariffs on Chinese goods..
• The absence of recent high-impact Australian data has left markets particularly sensitive to next week's Q1 CPI release, which now represents the key determinant for a potential RBA policy shift in May.
• At GMT 05: 35, The Australian dollar was last trading down 0. 05% to $0.6404
• Immediate resistance is located at 0.6433 (23.6%fib), any close above will push the pair towards 0.6524(Higher BB).
• Support is seen at 0.6331(38.2%fib) and break below could take the pair towards 0.6247(50%fib).
Recommendation: Good to buy around 0.640 0 with stop loss of 0.6320 and target price of 0.6480
