FxWirePro:AUD/USD neutral in the near-term, scope for downward resumption

• AUD/ USD remained defensive on Tuesday   after the Reserve Bank of Australia's hinted at potential rate cuts.

.• RBA minutes indicated that while policy remains restrictive, rate cuts could come as early as February, depending on economic data.

• RBA's more dovish stance put additional pressure on the Australian dollar, which was already weighed down by risk aversion and concerns over China's economy.

• At GMT 05:57 The Australian dollar  was last  trading down 0.12% to $0.6242.

•  Immediate resistance is located at 0.6278(Dec 20th high), any close above will push the pair towards 0.6323(50%fib).

•  Support is seen at 0.6215 (23.6%fib) and break below could take the pair towards 0.6162(Lower BB).

 Recommendation: Good to sell around 0.6250, with stop loss of 0.6300 and target price of 0.6160