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FxWirePro: EUR/AUD drifts lower ,could be on verge of bigger drop

 • EUR/AUD  dipped lower on Wednesday as investors continued to await concrete announcements about U.S. President Donald Trump's tariff plans.

 • Trump didn't impose tariffs on his first day back in the White House but has said he's considering 25% tariffs on Canada and Mexico, and 10% on China starting Feb. 1.

• On the data front, investors will get a reading of France's business confidence index, along with the flash consumer confidence figures for the euro zone on Thursday.

• Technical signals are   bearish as RSI is   at 49, daily momentum studies  14, 21 and 30 DMAs are trending down.
 
• Immediate resistance is located at 1.6411 (38.2%fib), any close above will push the pair towards 1.6767 (Higher BB).

•  Support is seen at 1.6522(50%fib) and break below could take the pair towards 1.6494(Lower BB)

Recommendation: Good to sell around 1.6610 with stop loss of 1.6680  and target price of 1.6530

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