• AUD/USD strengthened on Tuesday as Australian dollar was boosted by improved risk sentiment after U.S. President Donald Trump signaled potential exemptions from planned auto tariffs.
• Overnight, Trump indicated he might adjust the 25% tariffs placed on foreign auto and auto parts imports.
• Earlier, the White House exempted certain electronic items from high tariffs on Chinese imports, but later launched an investigation into semiconductor imports.
• The Reserve Bank of Australia's April meeting minutes, released Tuesday, highlighted concerns over tariffs and suggested potential for further easing in May.
• At GMT 05:40, the Australian dollar was trading higher 0.61% at $0.6365 against US dollar.
• Immediate resistance is located at 0.6379(61.8%fib), any close above will push the pair towards 0.6478(Higher BB).
• Support is seen at 0.6314(Daily low) and break below could take the pair towards 0.6234(50%fib).
Recommendation: Good to buy around 0.6330 with stop loss of 0.6260 and target price of 0.6400
