FxWirePro: EUR/AUD bulls lose traction, cannot add to overnight gains

• EUR/AUD initially gained but gave up ground    on Tuesday  as euro came under pressure from  ECB oicly makers comments  ,ongoing geopolitical risks and concerns on proposed tariffs by President-elect Donald Trump.

• Portuguese central bank chief Mario Centeno and European Central Bank Vice President Luis de Guindos cautioned about stagnating growth and the potential impact of tariffs.,

•   Euro was also pressured by the escalating conflict in Ukraine, with G7 ministers reaffirming their support and the United States increasing security assistance to strengthen the country's defenses.

• Technical are favoring bearish sentiment as RSI is at 46 and the pair is trading below 21 & 30-DMAs.

• Immediate resistance is located at 1.6212(50%fib), any close above will push the pair towards 1.6290 (61.8%fib).

• Strong support is seen at 1.6123(38.2%fib) and break below could take the pair towards 1.6010 (23.6%fib).

Recommendation: Good to sell around 1.6220 with stop loss of 1.6280 and target price of 1.6140