FxWirePro: AUD/USD softens slightly, but remains bid overall

• AUD/USD  eased on Thursday as rising risk aversion across global markets pushed investors toward safety of dollar.

•  Risk appetite took a further hit after U.S. President Donald Trump's administration on Wednesday launched a new trade investigation into excess industrial capacity in 16 major trading partners

• Iranian strikes reportedly hit oil tankers near Iraq, intensifying geopolitical tensions in the region.

• Energy markets reacted sharply to the developments. Brent crude surged more than 9% on fears of supply disruptions in the Gulf.

•  Meanwhile,  Markets imply a 79% chance of a hike at the RBA's meeting on March 17, up from around 20% before the conflict in the Middle East began.

•  Immediate resistance is located at 0.7176(23.6%fib), any close above will push the pair towards 0.7187 (Higher BB).

•  Support is seen at 0.7034 (38.2%fib) and break below could take the pair towards 0.7017(50%fib)

Recommendation: Good to buy around 0.7100 with stop loss of 0.6950, and target price of 0.7180