• EUR/ AUD dipped on Thursday as investors assessed Geopolitical uncertainty and awaited euro zone inflation data.
• U.S. and Iran traded accusations over reopening the Strait of Hormuz, with both sides blaming the other for failing to meet their commitments.
• Markets are awaiting the euro zone inflation data, due on Friday, for clues on the European Central Bank's monetary policy path.
•Meanwhile, U.S. producer prices were unchanged in July, data showed on Thursday. Traders scaled back their expectations of a September Fed rate-hike on Wednesday after only a mild increase in July inflation.
• EUR/ AUD has seen range 1.6357-1.6327 the pair is likely to be fall below 1.6300 level.
• Immediate resistance is located at 1.6457(50%fib), any close above will push the pair towards 1.6532(50%fib).
• Immediate support is seen at 1.6290(38.2% fib) and break below could take the pair towards 1.6191(Lower BB).
Recommendation: Good to sell round 1.6330, with stop loss of 1.6400 and target price of 1.6280
