•AUD/USD hit one week high on Thursday as the Australian dollar gained some traction after the U.S. offered some tariff relief for automakers.
• On Wednesday, the White House announced a one-month exemption from Trump's 25% tariffs on Canadian and Mexican automakers, provided they adhere to existing free trade rules.
• On the data front, Australia's surplus on trade goods widened in January, driven by a surge in gold exports.
• Home building approvals also jumped a solid 6.3%, heralding a pick up in the construction sector..
• At GMT 05:47, The Australian dollar was last trading up 0.35% to $0.6249
• Immediate resistance is located at 0.6364 (50%fib), any close above will push the pair towards 0.6442(61.8%fib).
• Support is seen at 0.6293 (38.2%fib) and break below could take the pair towards 0.6199(23.6%fib).
Recommendation: Good to sell around 0.6340, with stop loss of 0.6420 and target price of 0.6260
