• 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
