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FxWirePro: AUD/ USD recovery pauses as focus turns to US data

• AUD/USD eased slightly on Thursday as investors focus turned to US payroll and next week’s inflation data.

• U.S. President Trump and China's President Xi Jinping are set to discuss trade, raising hopes that tensions could ease and tariffs might be reversed.

• On the data front, Australia's trade surplus sharply narrowed in December, as a surge in imports of capital equipment outpaced gains in iron ore exports, according to data released on Thursday.

•  Australia's trade surplus narrowed to A$5.1 billion in December, down from A$6.8 billion in November and below the A$7.0 billion forecast.

•  Immediate resistance is located at 0.6294(50%fib), any close above will push the pair towards 0.6317(50%fib).

•  Support is seen at 0.6206 (38.2%fib) and break below could take the pair towards 0.6102 (23.6%fib)

Recommendation: Good to sell  around 0.6280, with stop loss of 0.6360, and target price of 0.6220

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