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FxWirePro: EUR/AUD gaining momentum for a move towards 1.7400 level

• EUR/AUD rose on Monday as the Australian dollar weakened on  concerns over Trump's tariff plans on April 2 and the upcoming RBA rate decision.

• Trump is set to unveil reciprocal tariffs on April 2, with automobile tariffs to follow on April 3.

• Australia's central bank is expected to keep interest rates steady on Tuesday, as a strong labor market continues to drive inflation.

• The Reserve Bank of Australia is the only major central bank yet to cut borrowing costs, having raised its benchmark rates by a relatively modest 425 basis points between May 2022 and November 2023.

• Immediate resistance is located at 1.7367(38.2% fib), any close above will push the pair towards 1.7419(Higher BB).

• Immediate support is seen at 1.7195(50% fib) and break below could take the pair towards 1.7040(50% fib).

  Recommendation: Good to buy on dips around 1.7280 with stop loss of 1.7200 and target price of 1. 7400
 

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