• EUR/AUD initially dipped but recovered some ground as caution persists around the fragile U.S.-Iran ceasefire. .
• Iran has accused Israel of breaching agreed terms through continued attacks in Lebanon, keeping geopolitical risks in focus..
• Markets saw a strong relief rally, lifting risk-sensitive assets, with WTI crude plunging 14.8% and the dollar index down 0.8%.,
• Focus now shifts to key U.S. data, including February core PCE (forecast +0.4% m/m) and Q4 GDP (forecast +0.7% q/q) due Thursday.
• Immediate resistance is located at 1.6689 ( SMA 20), any close above will push the pair towards 1.6903 (April 2nd high)
• Support is seen at 1.6453(38.2% fib) and break below could take the pair towards 1.6234(Lower BB).
Recommendation: Good to sell around 1.6580, with stop loss of 1.6650 and target price of 1.6500
