FxWirePro: AUD/ USD range bound short term, primary trend still lower

• AUD/ USD held steady around 0.6520 on Wednesday as Australian dollar garnered some support from a steady interest rate outlook from RBA

.•Minutes from the RBA's November policy meeting suggested that the central bank plans to maintain a tight monetary policy until it is sure that inflation is consistently heading toward its objective

• The upcoming important economic data is the consumer price index for October, scheduled for release on Nov. 27, with predictions of another low reading following a significant decrease to an annual 2.1% in September.

• At GMT 05:55, The Aussie was trading at  0.6522  further away from the recent three-month low of $0.6443 .

•  Immediate resistance is located at 0.6544(38.2%fib), any close above will push the pair towards 0.6612(50%fib).

•  Support is seen at 0.6494 (5SMA) and break below could take the pair towards 0.6445(23.6%fib).

 Recommendation: Good to sell around 0.6540, with stop loss of 0.6650  and target price of 0.6450.