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FxWirePro: EUR/AUD getting back on track for run towards 1.6500 level

• EUR/AUD  initially dipped but recovered some ground as traders waited on more concrete information regarding potential trade tariffs by U.S. President Donald Trump.

• Traders are growing less responsive to tariff news, which has previously unsettled investors worried about its impact on inflation and growth

• Mexico, Canada, and the EU condemned Trump's decision to impose tariffs on all steel and aluminum imports next month.

• In an up-and-down session, the pair hit low at 1.6388 in early trading then gained towards 1.6464.

• Immediate resistance is located at 1.6549(Feb 7th high), any close above will push the pair towards 1.6577 (61.8%fib)

• Support is seen at 1.6384 (38.2% fib ) and break below could take the pair towards 1.6249(50% fib).

  Recommendation: Good to buy around 1.6420 with stop loss of 1.6500 and target price of 1.6500
 

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