FxWirePro: AUD/USD holds steady as RBA minutes reveal no big surprises

• AUD/USD held steady  on Tuesday as investors digested details from the central bank's last policy meeting.

• RBA’s August minutes showed board members felt the 4.35% cash rate was helping lower inflation and allowed “some time” to assess the economy.

• The board unanimously kept rates unchanged after considering a fourth hike this year, while stressing that incoming data must show further progress toward its 2%-3% inflation target.

•Several members saw a possible need for further tightening if inflation risks materialise, while others noted downside risks could offset those pressures, the minutes showed.

 • Australia’s July CPI is due Wednesday and will be a key test for RBA rate expectations. A stronger-than-expected inflation reading could reinforce bets on another rate hike and support the Australian dollar.

• Immediate resistance is located at 0.7181 (38.2%fib), any close above will push the pair towards 0.7202 (Higher BB).

• Support is seen at 0.7091(50%fib) and break below could take the pair towards 07070  (SMA 20).

 Recommendation: Good to buy  around 0.7130, with stop loss of 0.7070 and target price of 0.7180