• GBP/ AUD eased slightly on Wednesday after President Trump announced a delay in some auto tariffs, easing trade tensions and boosting market sentiment.
• White House said President Donald Trump will exempt automakers from his 25% tariffs on Canada and Mexico for one month.
•Investors welcomed Trump’s tax-cut pledge in his Congress address but remained wary of his tariff policies.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 71,while moving averages and MACD are trending higher.
• Immediate resistance is located at 2.0515(23.6%fib), any close above will push the pair towards 2.0586(Higher BB).
• Immediate support is seen at 2.0330( (38.2%fib) and break below could take the pair towards 2.0215(50%fib).
Recommendation: Good to buy around 2.0350, with stop loss of 2.0250 and target price of 2.0500
