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• GBP/ AUD eased slightly on Tuesday as investors awaited UK spring budget update.
• British Finance Minister Rachel Reeves will release an Office for Budget Responsibility forecast on Wednesday, expected to cut the UK's 2025 growth projection from 2% to around 1%.
• The UK is set to release its February Consumer Price Index (CPI) inflation data at 7:00 AM GMT.
• Investors and policymakers will closely watch the data, as it could influence the Bank of England's future interest rate decisions.
• Immediate resistance is located at 2.0635(23.6%fib), any close above will push the pair towards 2.0685(Higher BB ).
• Immediate support is seen at 2.0437( 38.2%fib) and break below could take the pair towards 2.0341(March 18th low).
Recommendation: Good to buy around 2.0530, with stop loss of 2.0400 and target price of 2.0600
