• EUR/ AUD dipped on Monday as the pair faced l pressure as equities turned lower and oil prices moved higher amid persistent U.S.-Iran tensions.
• Rising energy prices remain a risk for the eurozone because of the region’s exposure to imported energy costs.
•Meanwhile, investors have shifted their focus back to macroeconomic and geopolitical developments for the next market catalyst.
• EUR/ AUD has seen range 1.6336-1.6259 the pair is likely to be fall below 1.6200 level.
• Immediate resistance is located at 1.6348(SMA20), any close above will push the pair towards 1.6373(50%fib).
• Immediate support is seen at 1.6255(38.2% fib) and break below could take the pair towards 1.6218(Lower BB).
Recommendation: Good to sell round 1.6300, with stop loss of 1.6400 and target price of 1.6250
