FxWirePro: AUD/USD eases slightly but trend is still bullish

• AUD/USD eased  on Thursday  as geopolitical tensions weighed on global risk sentiment, while investors continued to assess a RBA policy outlook.

• U.S. President Donald Trump toned down warnings of strikes on Iran over its civil unrest, even as Washington withdrew some personnel from Middle East bases after Iran warned it would target U.S. bases if attacked.

• The market currently assigns a 27% probability to a February quarter-point rate hike by the Reserve Bank, increasing to 76% by May..

•Australia’s consumer inflation expectations eased slightly to 4.6% in January 2025 from 4.7% previously, indicating households still expect elevated price pressures.

• Focus now shifts to Q4 CPI later this month, while next week’s December jobs report is also expected to offer additional insights..

•  Immediate resistance is located at 0.6703(SMA 20), any close above will push the pair towards 0.6729 (Jan 13th high).

•  Support is seen at 0.6666 (38.2%fib) and break below could take the pair towards 0.6615(Lower BB)

Recommendation: Good to buy  around 0.6660 with stop loss of 0.6600, and target price of 0.6720