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• AUD/USD fell sharply on Friday as risk aversion sparked sharp reversal amid rising worries of a global recession triggered by tariffs.
• Recession fears gripped financial markets on Friday as stocks extended a global selloff following U.S. President Trump's broad tariffs.
• Investors were left reeling as sharp asset price swings in the past 24 hours triggered Wall Street’s worst performance since the COVID-19 pandemic.
• At GMT 05:41, The Australian dollar was last trading down 1.28% to $0.6241
• Immediate resistance is located at 0.6318 (50%fib), any close above will push the pair towards 0.6396(61.8%fib).
• Support is seen at 0.6237(38.2%fib) and break below could take the pair towards 0.6134(23.6%fib).
Recommendation: Good to sell around 0.6250 with stop loss of 0.6220 and target price of 0.6200
