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FxWirePro: AUD/USD edges up as greenback softens amid US government shutdown

•  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

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