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• EUR/AUD dipped on Tuesday as investors monitored U.S.-Iran tensions for potential impacts on oil prices.
• U.S. President Donald Trump called for Iran’s complete economic isolation in his U.N. speech, while saying a deal could be reached after the November midterm elections..
• The war with Iran remains unpopular among Americans, while Trump’s approval rating has dropped to a record low as rising prices pressure households...
• Oil prices fell to two-week lows as hopes of diplomatic progress grew and Iran reportedly offered to reopen the Strait of Hormuz within seven days..
• Immediate resistance is located at 1.6154 (SMA 20), any close above will push the pair towards 1.6214(SMA 20).
• Immediate support is seen at 1.6087(23.6%fib) and break below could take the pair towards 1.6051(Lower BB)
Recommendation: Good to sell around 1.6110, with stop loss of 1.6180 and target price of 1.6050
