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

• EUR/AUD dipped  on Friday   as investors moved back into riskier assets, supporting the Australian dollar.

• U.S. President Donald Trump on Friday demanded Iran’s “unconditional surrender,” marking a sharp escalation in rhetoric a week after the war began with joint U.S.–Israeli strikes on Tehran.

• Oil prices paused their rally despite the escalating conflict disrupting shipments through the Strait of Hormuz for a fifth straight day.

•U.S. crude settled up 0.13%, or 10 cents, ⁠at $74.66 a barrel ​and Brent settled unchanged at $81.40 per barrel..

• Technical signals are bearish as RSI is at 27, momentum studies  11,14  and 21 DMAs are trending down. 

• Strong  resistance is located at 1.6663(38.2%fib), any close above will push the pair towards 1.6873(50%fib)

• Immediate support is seen at 1.6432 (23.6% fib) and break below could take the pair towards 1.6381(Lower BB).

  Recommendation: Good to sell   around 1.6530, with stop loss of 1.6600 and target price of 1.6460

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