• AUD/USD edged higher on Thursday as the U.S. dollar came under pressure amid an ongoing government shutdown.
• The U.S. government shutdown stretched into its ninth day on Wednesday, with the Senate rejecting rival funding plans from both Republicans and Democrats, leaving the deadlock unresolved.
• The government shutdown has delayed key economic releases, including the September jobs report that was due last Friday.
• Minutes from the Fed’s September meeting revealed most policymakers backed last month’s rate cut and signaled more easing later this year, though some urged caution over inflation risks.
• Looking ahead,markets will be watching testimony from RBA Governor Michele Bullock and Deputy Governor Andrew Kent at the Senate Economics Legislation Committee on Friday for additional policy cues.
• Immediate resistance is located at 0.6606(SMA20), any close above will push the pair towards 0.6682(Higher BB)
• Support is seen at 0.6553(38.2%fib) and break below could take the pair towards 0.6534(Lower BB).
Recommendation: Good to buy around 0.5800 with stop loss of 0.5720 and target price of 0.5850
