FxWirePro: AUD/USD edges up despite Australia's soft inflation data

• AUD/USD edged up on Wednesday  despite data showing  inflation in Australia slowed in February as markets continued to hope for some relief from escalations in U.S. tariff policy.

• Australia's inflation slowed in February as lower electricity prices and easing home building costs and rents bolstered the case for further rate cuts.

• Australian Bureau of Statistics data on Wednesday showed the consumer price index was flat in February, while annual inflation eased to 2.4% from 2.5%, defying forecasts.

• The Aussie showed little reaction to Tuesday's federal budget, which pledged tax cuts and increased borrowing to finance relief measures for voters ahead of the May election.

• At GMT 05:49, The Australian dollar  was last  trading up 0.18% to $0.6314

•  Immediate resistance is located at 0.6355 (50%fib), any close above will push the pair towards 0.6383(Higher BB).

•  Support is seen at 0.6272(38.2%fib) and break below could take the pair towards 0.6193(Lower BB).

 Recommendation: Good to buy around 0.6310, with stop loss of 0.6260 and target price of 0.6370