FxWirePro:AUD/USD retreats slightly as investors await key U.S.-China trade talks

• AUD/USD retreated   from 5 -month high on Wednesday as investors shifted focus to U.S.-China trade talks and the Federal Reserve's policy meeting.

• Markets showed little enthusiasm after weeks of optimism, despite news that U.S. and Chinese trade officials will meet in Geneva this weekend.

•U.S. Treasury Secretary Scott Bessent and chief trade negotiator Jamieson Greer will meet China's economic czar He Lifeng in Switzerland this weekend, marking a potential first step toward resolving the trade war affecting the global economy.

• Market attention will turn to the Federal Open Market Committee (FOMC) meeting later today, with the U.S. central bank widely expected to keep interest rates unchanged.

• At GMT 04:50, the Australian dollar was down 0.17% to 0.6477 against the greenback.

•  Immediate resistance is located at 0.6514(23.6%fib), any close above will push the pair towards 0.6542(Higher BB).

•  Support is seen at 0.6441(May 5th low) and break below could take the pair towards 0.6410(38.2%fib).

 Recommendation: Good to buy around 0.6450 with stop loss of 0.6380  and target price of 0.6530