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FxWirePro: EUR/ AUD eases slightly, focus on near term support

•  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

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