• The AUD/USD strengthened on Monday as dollar retreated ahead of Trump inauguration.
• Trump's address on Monday could offer a preview of the tone he intends to adopt during his second term in the White House.
• The Australian data schedule is light this week, with the consumer price report set for January 29. Analysts expect the key trimmed mean to rise by 0.6% in Q4.
• At GMT 04:33, The Australian dollar was last trading up 0.36% to $0.6213.
• Immediate resistance is located at 0.6259(38.2%fib), any close above will push the pair towards 0.6283 (Higher BB).
• Support is seen at 0.6167 (Jan 17th low) and break below could take the pair towards 0.6135 (23.6%fib)
Recommendation: Good to sell around 0.6240, with stop loss of 0.6320, and target price of 0.6150
