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FxWirePro: EUR/AUD under pressure as key support gives way

• EUR/AUD dipped  on Thursday  as  improving global risk sentiment and a softer USD backdrop supported Australian dollar.

• Risk appetite remains supported despite tensions, with Israel reportedly seeking talks with Lebanon after earlier actions threatened the U.S.–Iran ceasefire.

• Focus shifts to RBA Deputy Governor Andrew Hauser’s speech in New York, which could provide further policy signals and act as a catalyst for AUD direction. Hawkish commentary in the past has supported the currency by reinforcing rate hike expectations.

. • Technical signals are bearish as RSI is at 43, momentum studies  11,14  and 21 DMAs are trending down. 

• Strong  resistance is located at 1.6587(50% fib), any close above will push the pair towards 1.6794(61.8% fib)

• Immediate support is seen at 1.6380(38.2% fib) and break below could take the pair towards 1.6250(Lower BB).

  Recommendation: Good to sell   around 1.6530, with stop loss of 1.6650  and target price of 1.6460

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