• AUD/USD eased on Wednesday as renewed concerns over oil supply continued to weigh on sentiment and the Australian dollar.
•U.S. President Donald Trump said on Tuesday there were no talks with Iran and insisted the Strait of Hormuz was open, contradicting Iran's assertion that the waterway remained shut to shipping.
•Australia’s Q2 Wage Price Index rose 0.8% q/q and 3.2% y/y, matching market expectations, suggesting wage pressures remain steady.
•RBA Deputy Governor Andrew Hauser’s comments later Wednesday will be closely watched for clues on the central bank’s policy outlook.
• Immediate resistance is located at 0.7142 (Higher BB), any close above will push the pair towards 0.7153(61.8%fib).
• Support is seen at 0.7056(38.2%fib) and break below could take the pair towards 0.7036( (SMA 20).
Recommendation: Good to sell around 0.7070, with stop loss of 0.7150and target price of 0.7000
