FxWirePro: AUD/USD edges lower, but bullish outlook persists

• AUD/USD eased slightly   on Thursday  as concerns over the escalating Middle East conflict.

•   The U.S. intensified pressure on Iran by launching new strikes on coastal military facilities and restoring a naval blockade..

• Rising geopolitical tensions pushed oil prices higher, fueling renewed inflation concerns.

• Meanwhile, inflation expectations moderated for the third month in a row, easing to 4.7% in July 2026 from 5.5% in June, their lowest level in six months..

•Markets currently price only a 20% chance of a rate hike in August and around 60% odds by December.

• Markets are looking to upcoming employment and inflation reports for further guidance on the policy outlook..

•  Immediate resistance is located at 0.7020(Higher BB), any close above will push the pair towards 0.7046(50%fib).

•  Support is seen at 0.6955 (61.8%fib) and break below could take the pair towards 0.6937(61.8%fib).

 Recommendation: Good to buy around 0.6970 with stop loss of 0.6830  and target price of 0.7050