• AUD/USD eased on Tuesday as trading subdued as investors remained cautious amid lingering U.S.-Iran tensions.
• The pair is struggling to gain momentum, reflecting broader risk-off sentiment in global markets.
• WTI crude oil continued to trade above $113 a barrel in Asian sessions, with spot premiums reaching all-time highs.
• Iran rejected Pakistan’s ceasefire proposal, as U.S. President Trump’s Tuesday deadline for a deal looms. Market participants remain wary of escalating conflict risks that could disrupt global energy flows.
• Australia’s household spending for February rose 0.3% month-on-month, unchanged from January. While steady, the data is now seen as less market-moving given larger macro and geopolitical concerns.
• Immediate resistance is located at 0.6982 (SMA 20), any close above will push the pair towards 0.7011 (50%fib).
• Support is seen at 0.6891(61.8%fib) and break below could take the pair towards 0.6803(Lower BB)
Recommendation: Good to sell around 0.6930 with stop loss of 0.6970 , and target price of 0.6860
