FxWirePro: AUD/USD trades flat as China data fails to impress

• AUD/USD traded flat on Tuesday  as investors digested mixed Chinese GDP data and looked ahead to the upcoming U.S. inflation report.

• Data on Tuesday showed China's gross domestic product (GDP) grew 5.2% in the April-June quarter from a year earlier, slowing from 5.4% in the first quarter.

• Retail sales, a gauge of consumption, rose 4.8% in June, slowing from 6.4% growth in May. Analysts had expected retail sales to rise 5.4%..

• Investors are now shifting their focus to  U.S. consumer price data for June, set to be released at 12:30 GMT on Tuesday.

•Market forecasts point to a rise in annual headline inflation to 2.7%, compared to 2.4% in May. Core inflation is also expected to accelerate, reaching 3.0% from the previous 2.8%.

• Meanwhile, Australia is scheduled to release its jobs data on Thursday, with markets expecting an increase of 20,000 in employment and the jobless rate to remain unchanged at 4.1%.

•  Immediate resistance is located at 0.6594(38.2%fib), any close above will push the pair towards 0.6635(Higher BB)

•  Support is seen at 0.6533(20SMA) and break below could take the pair towards 0.6492(50%fib).

 Recommendation: Good to sell around 0.6550 with stop loss of 0.6600 and target price of 0.6490