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FxWirePro: EUR/AUD holds in narrow range, focus on near-term support

• EUR/AUD traded in narrow range   on Monday  as markets looked ahead to key economic data this week. 

• All eyes are on the U.S. consumer and producer price data, along with Europe's employment and GDP flash numbers, set to be released this week.

• The pair hit daily low at 1.6545 and was last trading at 1.6598 .

• Immediate resistance is located at 1.6664(38.2%  fib), any close above will push the pair towards 1.6825 (23.6%  fib).

• Immediate support is seen at 1.6553 (50% fib) and break below could take the pair towards 1.6414 (62.8%% fib).

Recommendation: Good to sell  around 1.6020, with stop loss of 1.6100 and target price of 1.6550
 

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