FxWirePro: AUD/USD retreats as traders seek clarity on tariffs and rates

• AUD/USD fell towards 0.6500 level on Monday as investor caution grew ahead of Trump's tariff deadline and upcoming Australia's rate decision.

• Trump confirmed Sunday that higher tariffs on most U.S. trade partners will start August 1 after the 90-day pause ends Wednesday.

• Trump said trade deals are nearly finalized and that a dozen countries will be notified of new tariffs on Monday.

• Meanwhile, markets are closely watching Australia as the Reserve Bank of Australia (RBA) prepares to announce its latest interest rate decision.

• The RBA is widely expected to cut rates by 25 bps to 3.60% on Tuesday to support weak growth and tame soft inflation.

•  Immediate resistance is located at 0.6584(23.6%fib), any close above will push the pair towards 0.6625(Higher BB).

•  Support is seen at 0.64821(38.2%fib) and break below could take the pair towards 0.6422(Lower BB).

 Recommendation: Good to buy around 0.6480 with stop loss of 0.6400 and target price of 0.6550