• EUR/AUD edged lower on Wednesday as investors assessed developments in the Middle East , meanwhile, a U.S. inflation reading reduced expectations for a Federal Reserve interest-rate hike next month.
A senior Iranian official said there had been no progress in efforts to revive an interim peace deal with the United States, dampening hopes for a near-term diplomatic breakthrough.
• Brent crude futures eased 0.1% as traders weighed those comments against a lower demand forecast by the Organisation of the Petroleum Exporting Countries.
• Meanwhile, U.S. consumer prices rose in line with expectations in July, reducing the odds of an interest rate hike from the Fed next month.
• Immediate resistance is located at 1.6355(Higher BB), any close above will push the pair towards 1.6411(50%fib)
• Support is seen at 1.6284(38.2%fib)and break below could take the pair towards 1.6215(Lower BB)
Recommendation: Good to sell around 1.6320 , with stop loss of 1.6450 and target price of 1.6280
