• EUR/AUD slipped to hit one week low on Wednesday as the U.S.-Japan trade agreement lifted demand for risk-sensitive currencies like the Australian dollar.
• Trump struck a major trade deal with Japan just ahead of the August 1 deadline, shielding Tokyo from harsh new tariffs on autos and other goods
• The U.S. and EU are close to a trade deal that would set 15% tariffs on European imports, while exempting select goods, according to European Commission officials.
• This follows a recent agreement with the Philippines and has fueled hopes that additional trade deals may soon be reached.
• Immediate resistance is located at 1.7890(SMA 20), any close above will push the pair towards 1.8094(38.2%fib)
• Strong support is seen at 1.7748(50%fib) and break below could take the pair towards 1.7694(Lower BB).
Recommendation: Good to buy around 1.7820, with stop loss of 1.7760 and target price of 1.7900
