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• AUD/USD edged lower on Monday as the Australian dollar weakened ahead of the U.S. tariff announcement and the upcoming RBA, which may offer clues on future rate decisions.
•Markets are nervous ahead of a new round of reciprocal levies that the White House is due to announce on Wednesday.
•The Reserve Bank of Australia is expected to hold the cash rate at 4.1% on Tuesday, with some analysts speculating a shift toward a rate cut in May.
• At GMT 05:41, The Australian dollar was last trading down 0.01% to $0.6283
• Immediate resistance is located at 0.6313 (50%fib), any close above will push the pair towards 0.6362(61.8%fib).
• Support is seen at 0.6258(38.2%fib) and break below could take the pair towards 0.6231(Lower BB).
Recommendation: Good to buy around 0.6270 with stop loss of 0.6190 and target price of 0.6360
