FxWirePro: AUD/USD retreats slightly but trend is still bullish

• AUD/USD  edged lower on Friday     as investors hoped the worst outcomes had been avoided in the Middle East, though weekend peace talks still offered plenty of event risk.

• Netanyahu’s call for direct talks with Beirut eased investor concerns after heavy Israeli strikes on Lebanon raised doubts over the U.S.–Iran ceasefire.

•The U.S. State Department will host a meeting next week to discuss ongoing ceasefire negotiations between Israel and Lebanon, a State Department official said late on Thursday..

• Market participants will also closely watch comments from RBA Deputy Governor Andrew Hauser, who is scheduled to speak in New York on Monday evening.

• Any guidance on inflation, policy outlook, or economic conditions could influence the next move in the AUD.

•  Immediate resistance is located at 0.7090(April 9th high), any close above will push the pair towards 0.7168 (23.6%fib).

•  Support is seen at 0.70622(38.2%fib) and break below could take the pair towards 0.6980(50%fib)

Recommendation: Good to buy around 0.7060 with stop loss of 0.7000, and target price of 0.7100