• AUD/USD eased on Tuesday as threat of an escalation in the Middle East war left sentiment fragile.
•Geopolitical tensions remain a key risk, with Iran adopting a more aggressive stance as U.S.-Iran peace negotiations stall.
•Brent crude climbed above $91 a barrel as renewed concerns over supply disruptions through the Strait of Hormuz lifted the oil risk premium.
•RBA Deputy Governor Andrew Hauser is scheduled to participate in a fireside chat in Brisbane on Wednesday.
•Australia’s July employment report is due Thursday, with Reuters economists expecting employment to rise by 15,000 and the unemployment rate to remain at 4.4%.
• Immediate resistance is located at 0.7118 (Higher BB), any close above will push the pair towards 0.7147(38.2%fib).
• Support is seen at 0.7056(38.2%fib) and break below could take the pair towards 0.7036( (SMA 20).
Recommendation: Good to buy around 0.7080, with stop loss of 0.7000 and target price of 0.7160
