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• AUD/USD edged higher on Thursday as the dollar weakened after Trump announced tariffs on all imported vehicles, escalating the global trade war.
• Late on Wednesday, Trump announced plans for long-promised 25% tariffs on automotive imports that are set to go into effect on April 2.
•On the data front, next key data release is the Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures (PCE) Price Index, scheduled for Friday.
• At GMT 05:53, The Australian dollar was last trading up 0.26% to $0.6307
• Immediate resistance is located at 0.6330 (38.2%fib), any close above will push the pair towards 0.6402(23.6%fib).
• Support is seen at 0.6275(50%fib) and break below could take the pair towards 0.6215(61.8%fib).
Recommendation: Good to buy around 0.6300, with stop loss of 0.6260 and target price of 0.6370
