• AUD/USD edged lower on Tuesday as escalating geopolitical tensions and global trade war concerns fueled risk aversion in the market.
• A wave of new policies under U.S. President Donald Trump has heightened uncertainty for businesses, consumers, and investors.
• A survey showed on Tuesday, Australian consumer sentiment surged to a three-year high in March, driven by slowing inflation and the first interest rate cut in over four years, boosting consumer confidence, a survey showed on Tuesday.
• At GMT 05:18, The Australian dollar was last trading down 0.13% to $0.6268.
• Immediate resistance is located at 0.6344 (50%fib), any close above will push the pair towards 0.6364(March 6th high).
• Support is seen at 0.6253 (38.2%fib) and break below could take the pair towards 0.6182(Lower BB).
Recommendation: Good to buy around 0.6260, with stop loss of 0.6200 and target price of 0.6320
