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

• The AUD/USD eased slightly  on Wednesday after data showed  slowdown in Australian core inflation reinforced expectations of a potential interest rate cut as early as February.

• Underlying inflation dropped to 3.2% in November, down from 3.5% in October, edging closer to the RBA's target range of 2% to 3%.

• The dovish outlook kept the Aussie steady at $0.6230, down from an overnight high of $0.6288.
 
•  Immediate resistance is located at 0.6267(38.2%fib), any close above will push the pair towards 0.6333 (50%fib).

•  Support is seen at 0.6190 (23.6%fib) and break below could take the pair towards 0.6138 (Lower BB)

Recommendation: Good to sell  around 0.6260, with stop loss of 0.6320, and target price of 0.6160