• EUR/AUD ticked up on Friday, though gains were constrained as investors remained on the sidelines ahead of a long holiday weekend.
•Global markets was volatile this week after the Fed on Wednesday kicked off an anticipated series of interest rate cuts with a larger-than-usual half-percentage-point reduction.
•On the data front, German producer prices fell less than expected in August, decreasing by 0.8% on the year versus expectations of a 1% decline.
• Immediate resistance is located at 1.6425(38.2%fib), any close above will push the pair towards 1.6505(Sep 17th high).
• Strong support is seen at 1.6320(50%fib) and break below could take the pair towards 1.6258(61.8%fib).
Recommendation: Be on sidelines
