• 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
