FxWirePro: AUD/USD softens slightly, no surprises in wage price data

• AUD/USD eased on Wednesday  following the release of Australia’s latest wage inflation data

• Australian wages rose moderately in Q4, with private sector growth improving slightly, while annual wage growth remained unchanged for over a year..

• Data from the Australian Bureau of Statistics showed the wage price index rose 0.8% in the December quarter, matching the previous quarter and forecasts.

• Annual wage growth edged up to 3.4% from 3.3% and has stayed within a 3.2%–3.6% range for six straight quarters.

• Looking ahead, markets are awaiting several key U.S. economic releases, including durable goods orders, industrial production data, and the Federal Open Market Committee (FOMC) meeting minutes.

•  Immediate resistance is located at 0.7144(23.6%fib), any close above will push the pair towards 0.7169 (Higher BB).

•  Support is seen at 0.7060 (38.2%fib) and break below could take the pair towards 0.7019(SMA20)

Recommendation: Good to bu around around 0.7040 with stop loss of 0.6980, and target price of 0.7100