EURAUD Euro vs Australian Dollar

The Australian dollar climbed against its major rivals in the Asian session on Tuesday, as investors monitored the ongoing conflict in Ukraine, following high-level talks between Kyiv and Moscow to find a peaceful resolution to the crisis.

Although the first round of talks between Russia and Ukraine ended without a breakthrough, both sides agreed to hold another round of negotiations in the coming days.

Asian stock markets are mostly higher as investors resorted to bargain hunting on beaten-down stocks.

Australia's central bank left its key interest rate unchanged, as widely expected.

The policy board of the Reserve Bank of Australia headed by Governor Philip Lowe decided to leave its cash rate target unchanged at a record low of 0.10 percent.

The Board said it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 percent target range. While inflation has picked up, it is too early to conclude that it is sustainably within the target range.

The aussie climbed to 6-day highs of 0.7268 against the greenback and 83.71 against the yen, after falling to 0.7247 and 83.44, respectively earlier in the session. The next possible resistance for the aussie is seen around 0.74 against the greenback and 85.00 against the yen.

Reversing from its early lows of 1.0713 against the kiwi and 1.5458 against the euro, the aussie moved up to near a 2-week high of 1.0751 and near a 4-month high of 1.5406, respectively. The aussie is seen facing resistance around 1.09 against the kiwi and 1.52 against the euro.

The aussie rebounded to 0.9213 against the loonie, after having dropped to 0.9191 at 10:30 pm ET. On the upside, 0.94 is likely seen as its next resistance level.

Looking ahead, PMI reports from major European economies, as well as U.K. mortgage approvals for January are due in the European session.

At 8:00 am ET, German preliminary CPI for February is scheduled for release.

Canada GDP data for the fourth quarter, U.S. ISM manufacturing PMI for February and construction spending for January are set for release in the New York session.

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