FxWirePro: EUR/AUD attracts buying interest, 38.2% fibonacci eyed

• EUR/AUD  rose on Monday  as  uncertainty about trade negotiations between the United States and the European Union supported a rally in euro.

• The European Union is considering a wider range of potential countermeasures against the United States, as hopes for a viable trade agreement with Washington diminish, according to EU diplomats.

•  U.S. President Donald Trump has warned of 30% tariffs on European imports if a trade deal isn’t finalized by the August 1 deadline.

• Meanwhile, this week’s domestic focus is on the upcoming European Central Bank meeting and the release of flash PMI data.

•  European Central Bank rate decision is unlikely to deliver surprises, with policymakers expected to hold rates steady.

•  Immediate resistance is located at 1.8051(Higher BB), any close above will push the pair towards 1.8149 (38.2%fib)

• Strong support is seen at 1.7802(50%fib) and break below could take the pair towards 1.7737(Lower BB).

Recommendation: Good to buy   around 1.7920, with stop loss of 1.7850 and target price of 1.8050