FxWirePro: AUD/USD remains firm as Fed feud undermines USD

• AUD/USD inched higher on Tuesday  as  greenback remained soft on concerns over the U.S. central bank's independence.

• Investors dumped the U.S. dollar and turned to gold after the Trump administration launched a criminal probe into Fed Chair Jerome Powell, raising concerns over the Federal Reserve’s independence..

•Fitch Ratings said on Monday it views the Fed's independence as a key supporting factor for its AA+ U.S. sovereign rating.

• In Australia, a Westpac survey showed consumer sentiment fell in January amid renewed rate jitters and an uncertain economic outlook..

•Markets price in about a 30% chance of a 25-bp RBA rate hike on February 3, rising to around 80% by May.

•  Immediate resistance is located at 0.6758(Higher BB), any close above will push the pair towards 0.6773 (23.6%fib).

•  Support is seen at 0.6682 (SMA 20) and break below could take the pair towards 0.6663(SMA 20)

Recommendation: Good to buy  around 0.6700 with stop loss of 0.6650, and target price of 0.6760