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• 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
