• GBP/AUD steadied on Tuesday as risk-off market environment weighed heavily on the Australian dollar.
• Sharp losses in gold, silver and copper, alongside declines in equity markets, added further pressure to the risk-sensitive AUD.
• Attention now shifts to key Australian data releases, with May CPI due Wednesday expected at -0.4% m/m and +4.3% y/y per Reuters poll consensus.
• Labour market data follows on Thursday, with expectations for +30K jobs added and unemployment steady at 4.4%, both key inputs for RBA policy signals.
• RBA Deputy Governor Andrew Hauser is scheduled to speak in Melbourne on Wednesday, with markets watching for any shift in policy tone.
• Immediate resistance is located at 1.9103(38.2%fib), any close above will push the pair towards 1.9158(Higher BB).
• Strong support is seen at 1.8942(50%fib) and break below could take the pair towards 1.8907 ( lower BB).
Recommendation: Good to buy around 1.9050, with stop loss of 1.8950 and target price of 1.9150
