FxWirePro: AUD/USD gains amid renewed pressure on U.S. dollar

•   AUD/USD advanced   on Thursday as dollar slipped as worries of a worsening fiscal outlook in the world's biggest economy weighed on investor sentiment.

•  The U.S. dollar fell for a fourth straight session, while long-term Treasury yields hit an 18-month high amid uncertainty over U.S. economic and fiscal plans..

• Investor focus remained on U.S. President Donald Trump's tax bill, set for a congressional vote this week, amid concerns it could add about $3.8 trillion to the nation’s $36 trillion debt burden.

• Investors worry the bill could worsen the U.S. budget deficit, with Moody’s downgrade heightening debt concerns.

•At GMT 05:27, the Australia dollar was up 0.45% to 0.6447 against the US dollar.

•  Immediate resistance is located at 0.6490(Higher BB), any close above will push the pair towards 0.6520(23.6%fib).

•  Support is seen at 0.6417(38.2%fib) and break below could take the pair towards 0.6362(Lower BB).

 Recommendation: Good to buy around 0.6430 with stop loss of 0.6350  and target price of 0.6500