• AUD/USD rose on Monday as a weaker U.S. dollar and easing U.S.-China trade tensions lifted Australian dollar.
• President Donald Trump in interview reiterated that he believed China wanted to do a deal, but offered no details or timeline.
• Negotiations between the U.S. and its major trading partners continue to draw attention, amid optimism for a de-escalation in U.S.-China trade tension.
• Australia's economic calendar for the week is relatively light, with only a few key data releases scheduled.
• At GMT 05:26, The Australian dollar was 0.60% stronger at $0.6482 against US dollar,its highest level since 5 Dec 2024
• Immediate resistance is located at 0.6498(23.6%fib), any close above will push the pair towards 0.6554(Higher BB).
• Support is seen at 0.6431(Daily low) and break below could take the pair towards 0.6393(38.2%fib).
Recommendation: Good to buy around 0.6470 with stop loss of 0.6400 and target price of 0.6560
