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• AUD/USD dipped on Thursday as global trade tensions fueled risk aversion, weighing on the risk-sensitive Australian dollar.
• President Trump threatened new tariffs on EU goods Wednesday, as key U.S. trading partners vowed retaliation against his existing trade barriers.
• Rising global trade tensions and U.S. recession fears have shaken markets, fueling high volatility in market as investors react to Trump's unpredictable policy shifts.
• At GMT 05:47, The Australian dollar was last trading down 0.20% to $0.6301.
• Immediate resistance is located at 0.6324(50%fib), any close above will push the pair towards 0.6368(61.8%fib).
• Support is seen at 0.6243 (38.2%fib) and break below could take the pair towards 0.6182(Lower BB).
Recommendation: Good to buy around 0.6280, with stop loss of 0.6200 and target price of 0.6320
