FxWirePro: AUD/USD momentum strongly bearish despite pause in losses

• The AUD/USD steadied around  0.6260 on Tuesday  as Trump renews tariff threats against China and the EU.

• Trump pledged to impose tariffs on the European Union and announced that his administration was considering a 10% tariff on goods imported from China, set to begin on February 1.

• On the data front, Australia’s Q4 consumer price report is due next week, with analysts hoping core inflation will slow enough to prompt a rate cut from the Reserve Bank of Australia on Feb. 18.

•  At GMT 05:41, The Australian dollar  was last  trading down 0.17% to $0.6260. 

•  Immediate resistance is located at 0.6281(38.2%fib), any close above will push the pair towards 0.6297(Higher BB).

•  Support is seen at 0.6213 (38.2%fib) and break below could take the pair towards 0.6135 (23.6%fib)

Recommendation: Good to sell  around 0.6270, with stop loss of 0.6320, and target price of 0.6200