FxWirePro:AUD/USD downside pressure builds, key support level in

• AUD/USD slipped  lower on Tuesday as trade war concerns  pressured trade-exposed currencies like Australia dollar.

• U.S. President Trump’s new 25% tariffs on imports from Mexico and Canada took effect Tuesday, alongside a doubling of duties on Chinese goods to 20%, escalating trade tensions with the nation’s top three trading partners.

• Trade concerns overshadowed Australian data showing a January retail sales rebound and stronger-than-expected net export contributions to Q4 economic growth.

•The Reserve Bank of Australia's February meeting minutes signaled a hawkish stance, cautioning that further rate cuts were not guaranteed.

• At GMT 05:33, The Australian dollar  was last  trading down  0.50% to $0.6195.  

•  Immediate resistance is located at 0.6250(38.2%fib), any close above will push the pair towards 0.6301(50%fib).

•  Support is seen at 0.6188 (23.6%fib) and break below could take the pair towards 0.6132(Lower BB).

 Recommendation: Good to sell around 0.6200, with stop loss of 0.6270 and target price of 0.6150