• The AUD/USD dipped on Tuesday as dollar pared some overnight losses after Trump suggested the United States could impose tariffs on Canada and Mexico in the near future.
• The dollar dropped sharply on Monday after Trump’s first day lacked specific tariff plans, and officials signaled new taxes would be imposed cautiously, easing concerns for trade-sensitive currencies.
• The Australian data schedule is light this week, with the key quarterly consumer price report set for Jan. 29.
• At GMT 05:48, The Australian dollar was last trading down 0.11% to $0.6139.
• Immediate resistance is located at 0.6293(50%fib), any close above will push the pair towards 0.6350 (61.8%fib).
• Support is seen at 0.6233 (38.2%fib) and break below could take the pair towards 0.6160 (23.6%fib)
Recommendation: Good to sell around 0.6250, with stop loss of 0.6320, and target price of 0.6150
