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FxWirePro: AUD/USD rises to 5-month high, scope for further upside

• 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

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