FxWirePro: EUR/ AUD dips below 1.6300 level, focus on near term support

•  EUR/ AUD dipped below 1.6300 level  on Tuesday as renewed U.S. strikes on Iran heightened geopolitical tensions

• The U.S. and Iran exchanged fresh attacks, while Yemen's Iran-backed Houthis announced a naval blockade on Saudi Arabia, raising concerns over energy supplies and pushing oil prices above $90 a barrel.

• German investor morale rose much more than expected in July as a government reform package brightened the mood despite uncertainty about the conflict in Iran, a survey found on Tuesday.

• The indicator of economic sentiment more than doubled, to ​26.3 points from 10.5 points the month before, the ZEW economic research institute said.

• Immediate resistance is located at 1.6421(50% fib), any close above will push the pair towards 1.6431(SMA 20).

• Immediate support is seen at 1.6259(38.2% fib) and break below could take the pair towards 1.6202(Lower BB).

Recommendation: Good to sell  round 1.6300, with stop loss of 1.6400 and target price of 1.6220