• AUD/USD eased from eight-month high on Friday as investors locked in profits ahead of U.S. President Donald Trump's tariff deadline.
• Next week promises to be a pivotal one for markets, with multiple high-stakes events on the calendar.
• Investors will have to navigate a series of major risk events, starting with President Donald Trump’s August 1 deadline for finalizing trade deals , a key marker that could determine whether new tariffs are imposed or negotiations move forward.
• In addition to trade uncertainty, markets will be closely watching the Federal Reserve’s upcoming policy meeting, where officials are expected to provide crucial guidance on interest rates and the broader economic outlook.
• Domestically, all eyes are on the second-quarter inflation data due Wednesday, a key release the Reserve Bank of Australia (RBA) has been closely watching.
• Immediate resistance is located at 0.6627(23.6%fib), any close above will push the pair towards 0.6654(Higher BB )
• Support is seen at 0.6550(SMA 20) and break below could take the pair towards 0.6491(38.2%fib).
Recommendation: Good to buy around 0.6560 with stop loss of 0.6470 and target price of 0.6620
