FxWirePro: AUD/USD slips as greenback strengthens after US tariff ruling

•   AUD/USD weakened against the U.S. dollar on Thursday, as the greenback gained strength following a U.S. court decision blocking President Donald Trump's wide-ranging import tariffs from taking effect.

• The Court of International Trade ruled Trump exceeded his authority by imposing broad tariffs on trade-surplus countries.

•  Investors responded by buying risk assets like stocks and the U.S. dollar, which had seen heavy selling since early April.

• The data may disappoint the Reserve Bank of Australia, which last week cut rates by 25 basis points to 3.85%, relying on the expectation that inflation would keep easing.

•On the data front, Australian business investment unexpectedly fell in Q1, with lower equipment spending weighing on growth and dampening hopes for a rebound.

• At GMT 05:58, the Australian dollar was down 0.10% to 0.6419 against the   dollar.

•  Immediate resistance is located at 0.6499(Higher BB), any close above will push the pair towards 0.6522(23.6%fib).

•  Support is seen at 0.6402(38.2%fib) and break below could take the pair towards 0.6378(Lower BB).

 Recommendation: Good to buy around 0.6400 with stop loss of 0.6320  and target price of 0.6490