• EUR/AUD edges higher on Thursday as rising geopolitical tensions pressured the Australian dollar amid broader risk-off sentiment.
• Tensions in the Middle East escalated sharply overnight after Israel launched strikes on Iranian nuclear facilities, while Iran retaliated with missile attacks that reportedly hit an Israeli hospital.
• The exchange marked a significant intensification of hostilities, raising fears of a broader regional conflict and drawing global attention to the rapidly deteriorating security situation.
• Markets were hopeful of talks between the U.S. and Iran, and between the European Union and Iran on Friday, leading to a potential de-escalation in tensions.
• Immediate resistance is located at 1.7815(38.2%fib), any close above will push the pair towards 1.7900(Higher BB)
• Strong support is seen at 1.7623(Daily low) and break below could take the pair towards 1.7452(50%fib).
Recommendation: Good to buy around 1.7720, with stop loss of 1.7640 and target price of 1.7800
