FxWirePro: AUD/USD neutral in the near-term, scope for downward resumption

• AUD/USD traded flat on Wednesday as investors assessed latest release of softer-than-expected U.S. CPI figures.

•U.S. consumer prices rose only marginally in July, matching forecasts, as the impact of Trump’s broad tariffs on goods prices has so far remained limited.

• On the domestic front, Australia’s annual wage growth held steady in Q2 after over a year of declines, driven mainly by public sector gains, signaling a solid rise in real earnings that could bolster consumer spending.

• The Australian Bureau of Statistics reported on Wednesday that the wage price index rose 0.8% in Q2, matching market expectations.

• Market attention now shifts to Thursday’s key releases — Australia’s July employment report, U.S. weekly jobless claims, and the U.S. July manufacturing producer price index — which could set the tone for near-term currency direction.

•  At GMT 05:39, the Australian dollar was flat   at 0.6527 against the Greenback

•  Immediate resistance is located at 0.6610 (38.2%fib), any close above will push the pair towards 0.6625(Higher BB)

•  Support is seen at 0.6513 (SMA 20) and break below could take the pair towards 0.6489(50%fib).

 Recommendation: Good to sell around 0.6540 with stop loss of 0.6600 and target price of 0.6460