• AUD/USD edged higher on Monday as market participants focused on the upcoming global central bank meetings.
•This week, the spotlight is on central bank meetings in the United States, Japan, and the United Kingdom, as key decisions are expected to shape the future of global monetary policy.
• Markets are confident that policymakers will keep rates unchanged, but any indication of their concerns about a potential U.S. recession could impact currency prices.
•Australian February labor data is set to be released on Thursday, and it is expected to provide important insights into the health of the country's labor market.
• At GMT 05:44, The Australian dollar was last trading up 0.07% to $0.6327.
• Immediate resistance is located at 0.6334 (50%fib), any close above will push the pair towards 0.698(61.8%fib).
• Support is seen at 0.6263 (38.2%fib) and break below could take the pair towards 0.6192 (Lower BB).
Recommendation: Good to buy around 0.6320, with stop loss of 0.6250 and target price of 0.6380
