• EUR/AUD drifted lower on Thursday as investors digested President Donald Trump's address to the World Economic Forum in Davos.
• Investor anxiety is rising as Trump's ongoing protectionist rhetoric takes center stage, with a pledge to impose tariffs on the European Union expected by February 1. This uncertainty is further.
• President Donald Trump spoke remotely at the World Economic Forum in Davos, urging an immediate interest rate cut in the U.S. and encouraging other nations to follow suit..
• Eurozone consumer confidence remained steady, providing little relief, while French industrial confidence fell to 95 points in January, down from 97 in December..
• Immediate resistance is located at 1.6696 ( 23.6%fib), any close above will push the pair towards 1.6765 (Higher BB).
• Immediate support is seen at 1.6558(38.2%fib) and break below could take the pair towards 1.6505 (Lower BB).
Recommendation: Good to sell around 1.6580 with stop loss of 1.6640 and target price of 1.6500.
