FxWirePro : EUR/AUD gains slightly, but reversal is likely

• EUR/AUD  edged higher on Friday but gains were limited as investors analyzed some of the first Eurozone economic data releases of 2025.

• Eurozone manufacturers finished last year on a poor note, with manufacturing activity decreasing more swiftly and no promise of a near-term turnaround.

• The slowdown remained broad, with Germany, France, and Italy—the Eurozone's three largest economies mirroring an industrial contraction.

• Immediate resistance is located at 1.6597(38.2% fib), any close above will push the pair towards 1.6739 (23.6% fib).

• Strong support is seen at 1.6487 (50% fib) and break below could take the pair towards 1.6370(61.8% fib)

Recommendation: Good to sell around 1.6600, with stop loss of 1.6700 and target price of 1.6520