FxWirePro: AUD/USD softens as USD buyers re-emerge

• AUD/USD edged  lower  on Thursday as greenback firmed as investors remained focused on U.S. monetary policy signals.

• Federal Reserve Governor Lisa Cook said she is more concerned about stalled progress on inflation than a weakening labour market, signaling she would be unlikely to support another interest-rate cut until tariff-related price pressures begin to ease.

•On the data front, Australia's surplus on goods trade widened in December as exports of iron ore and coal picked up while imports dipped, data showed on Thursday.

•The Australian Bureau of Statistics said Australia’s goods trade surplus rose to A$3.37 billion ($2.36 billion) in December, up from a revised A$2.6 billion in November, broadly in line with market expectations of around A$3.25 billion.

• Markets are pricing in roughly an 80% chance that the RBA will lift the cash rate to 4.10% at its May policy meeting, with about a 50% probability that rates could end the year at 4.35%.

•  Immediate resistance is located at 0.7044(Feb 4th high), any close above will push the pair towards 0.7084(23.6%fib).

•  Support is seen at 0.6960 (38.2%fib) and break below could take the pair towards 0.6854(50%fib)

Recommendation: Good to buy  around 0.6940 with stop loss of 0.6900 and target price of 0.7090