FxWirePro: AUD/ USD neutral in the near-term, scope for downward resumption

• AUD/ USD  was little changed   on Wednesday after data showed Australia's inflation remained   flat at 2.1% .

• Australia's consumer price inflation rate remained at a three-year low in October, as government rebates helped lower electricity and rent prices. However, core inflation increased, indicating ongoing cost pressures in other areas.

.• Data from the Australian Bureau of Statistics, released on Wednesday, showed the monthly consumer price index rose by 2.1% year-on-year in October, matching September's rate and coming in below market expectations of 2.3%..

• At GMT 06:12, The Aussie was trading   up  0.02% at 0.6475   .

•  Immediate resistance is located at 0.6518 (38.2%fib), any close above will push the pair towards 0.6575(50%fib).

•  Support is seen at 0.6446(23.6%fib) and break below could take the pair towards 0.6418(Lower BB).

 Recommendation: Good to sell around 0.6480, with stop loss of 0.6580  and target price of 0.6410.