FxWirePro: EUR/AUD attracts selling interest, could be on verge of a bigger drop

• EUR/AUD slipped lower on Wednesday  following the Federal Reserve’s decision to keep the Federal Funds Rate (FFR) unchanged at 3.5%–3.75%.

•   the Fed acknowledged that inflation remains elevated, while noting that unemployment has stabilized, highlighting ongoing resilience in the labor market..

• Policymakers also emphasized that risks to the economic outlook remain two-sided, signaling uncertainty over the pace and timing of future policy adjustments.

• Looking ahead, several important data releases on Thursday could influence near-term price action. In Australia, Q4 trade price data will offer insight into export pricing trends and commodity demand.

• Immediate resistance is located at 1.7178(38.2%fib), any close above will push the pair towards 1.7310(SMA 20).

• Strong support is seen at 1.6966(23.6%fib) and break below could take the pair towards 1.6882(Lower BB).

Recommendation: Good to sell around 1.7000 with stop loss of 1.7080 and target price of 1.6860