• EUR/AUD dipped on Monday as investors awaited signs of a possible resolution to the Middle East war, as the U.S. and Iran weighed the framework of a plan to end their conflict.
• The U.S. and Iran traded verbal attacks as President Donald Trump reiterated threats to strike Iran if a deal is not reached by his Tuesday night deadline.
• Trump said the U.S. has an “active and willing” counterpart in talks with Iran, but reiterated threats to strike power plants and key infrastructure
• Iran rejected a ceasefire and stressed the need for a permanent end to the war in a response sent via Pakistan, IRNA reported Monday.
• Strong resistance is located at 1.6734(Daily high), any close above will push the pair towards 1.6849(38.2%fib)
• Immediate support is seen at 1.6662(38.2% fib) and break below could take the pair towards 1.6542(SMA 20).
Recommendation: Good to sell around 1.6690, with stop loss of 1.6760 and target price of 1.6630
