• AUD/USD declined sharply on Friday as concerns over U.S. President Trump's upcoming tariffs led to a sell-off in risk-sensitive currencies like the Aussie.
• On Thursday, Trump announced that his proposed 25% tariffs on Mexican and Canadian goods, along with an additional 10% duty on Chinese imports, would take effect on March 4.
• Investors will closely monitor the Fed's preferred inflation measure, the PCE price index, set for release later today.
• At GMT 05:45 The Australian dollar was last trading down 0.35% to $0.6213.
• Immediate resistance is located at 0.6215(50%fib), any close above will push the pair towards 0.6310(Feb 25th high).
• Support is seen at 0.80(38.2%fib) and break below could take the pair towards 0.6087(23.6%fib)
Recommendation: Good to sell around 0.6230, with stop loss of 0.6300, and target price of 0.6120
