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• AUD/USD edges lower on Monday as geopolitical tensions added to market uncertainty
• Iran targeted military bases in Jordan in retaliation for U.S. attacks on Larak Island, raising concerns about a broader escalation in the Middle East.
• Focus will turn to a U.S.-hosted meeting of G20 finance ministers and central bank governors on Monday and Tuesday.
•Markets will watch for signs of coordinated efforts to sever ties with Iran, as well as measures aimed at easing concerns over rising U.S. debt and bond yields.
•Markets will also focus on upcoming Australian economic data. Australia’s Q2 current-account figures are due Tuesday, followed by Q2 real GDP on Wednesday, with economists expecting quarterly growth of around 0.3%
• Immediate resistance is located at 0.7171(38.2%fib), any close above will push the pair towards 0.7180(SMA 20).
• Support is seen at 0.7148(Lower BB) and break below could take the pair towards 0.7140 (50%fib ).
Recommendation: Good to buy around 0.7150, with stop loss of 0.7100 and target price of 0.7220
