FxWirePro: EUR/AUD lacks momentum but downside risks persist

• EUR/AUD was little changed on Friday as investors monitored the potential for a US–EU trade agreement.

•  President Donald Trump has threatened to impose 15%–20% blanket tariffs on several major trading partners, with the European Union next in line for formal notification.

• The EU remains on edge, awaiting a letter from the U.S. administration that may outline new levies on European imports.

• Brussels had hoped for a broad zero-tariff deal, but talks have revealed divisions,Germany wants a swift agreement, while France warns against a U.S.-favored pact.

• On the data front, France’s harmonized inflation rate was revised up to 0.9% YoY in June from an initial estimate of 0.8%, INSEE said Friday.

•  Immediate resistance is located at 1.7965 (June 10th high), any close above will push the pair towards 1.8084 (38.2%fib)

• Strong support is seen at 1.7726(50%fib) and break below could take the pair towards 1.7619(Lower BB).

Recommendation: Good to sell around 1.7780, with stop loss of 1.7850 and target price of 1.7700