• GBP / AUD eased slightly on Tuesday as investors adopted a risk-off stance in response to mounting global economic and trade uncertainties.
• Markets continued to focus on U.S. fiscal developments and Trump’s evolving tariff stance, both key drivers of recent market volatility.
• Looking ahead, attention will shift to key domestic eonomic data from Australia, which could influence RBA expectations.
• The report primarily reflects goods activity in the first month of the quarter and typically has little impact on policy rate decisions.
• Markets now price a 67% chance of an RBA rate cut in July, with 80bps of total easing expected by early 2026.
• Immediate resistance is located at 2.1127(38.2% fib), any close above will push the pair towards 2.1489(23.6% fib).
• Strong support is seen at 2.0923(SMA5) and break below could take the pair towards 2.0839 (50% fib)
Recommendation: Good to buy around 2.0950, with stop loss of 2.0880 and target price of 2.1050
