FxWirePro: AUD/USD hits six month high, scope for further upside

•   AUD/USD rose to hit six month high on Monday as U.S. President Donald Trump's fresh tariff threats pressured the greenback.

•  On Sunday, Trump stepped back from his threat to impose 50% tariffs on EU imports next month, agreeing to push the deadline to July 9.

• The rapid de-escalation eased concerns about a global slowdown but also highlighted the sudden shifts possible in U.S. trade policy.

• Looking ahead, Australia will release monthly CPI data on Wednesday and retail sales figures on Friday. These reports are especially significant after the central bank signaled the possibility of further policy easing.

 • At GMT 05:53, the Australia dollar was up 0.54% to 0.6526 against the   dollar.

•  Immediate resistance is located at 0.6533(38.2%fib), any close above will push the pair towards 0.6664(23.6%fib).

•  Support is seen at 0.6484(Daily high) and break below could take the pair towards 0.6426(50%fib).

 Recommendation: Good to buy around 0.6500 with stop loss of 0.6430  and target price of 0.6580