• EUR/AUD retreated slightly on Tuesday as investors awaited for upcoming European Central Bank interest rate decision.
• The European Central Bank meets Thursday, with U.S. tariff threats hanging over the euro zone's weak economy.
• Traders expect more rate cuts, but will look for new clues on the ECB's future plans.
• Technical signals are slightly bullish as RSI is at 54 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.6729 (Jan 27th hiigh), any close above will push the pair towards 1.6805 (23.6%fib).
• Strong support is seen at 1.6641 (50%fib) and break below could take the pair towards 1.6514(61.8%fib).
Recommendation: Good to buy around 1.6650, with stop loss of 1.6560 and target price of 1.6720
