• AUD/USD ticked higher on Friday as Trump's softer approach to tariffs increased market risk appetite, boosting the Australian dollar.
• President Donald Trump expressed confidence that a deal could be reached with China, emphasizing that he would prefer to avoid using tariffs as a tool in negotiations.
• China is Australia’s largest export market, and investors worldwide often use the Australian dollar as a liquid proxy for trade risks.
• At GMT 05:25, the pair was trading up 0.54% at 0.6317, the highest level since Dec 18th.
• Immediate resistance is located at 50%fib, any close above will push the pair towards 0.6410(61.8%fib).
• Support is seen at 0.6279(Daily low) and break below could take the pair towards 0.6240(38.2%fib).
Recommendation: Good to buy around 0.6300 with stop loss of 0.6250 and target price of 0.6390
