• AUD/USD edged lower on Wednesday as US dollar gained some traction ahead of key U.S. inflation report.
• The U.S. Consumer Price Index (CPI) report is due at 1330 GMT later in the day. The CPI likely rose 0.3% in January, following a 0.4% gain in the prior month, .
• Investors are also closely watching the Producer Price Index (PPI) data set for Thursday .
• At GMT 05:38, the pair was trading down 0.03% at 0.6292
• Immediate resistance is located at 0.6299 (61.8%fib), any close above will push the pair towards 0.6345(Higher BB).
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• Support is seen at 0.6237(50%fib) and break below could take the pair towards 0.6174(38.2%fib).
Recommendation: Good to sell around 0.6300 with stop loss of 0.6350 and target price of 0.6230
