• EUR/AUD was little changed on Wednesday after the Federal Reserve delivered a widely expected 25 bps rate cut and indicated it may pause further easing.
•Market reaction was subdued as traders had already priced in Wednesday’s decision, with Fed funds futures now pointing to another cut in April, though it is not fully priced in until June...
•The Fed's decision to lower the benchmark policy rate by a quarter of a percentage point to the 3.50%-3.75% range drew three dissents:.
•Speaking after the decision, Powell said U.S. interest rate policy is appropriately positioned for what lies ahead, while stopping short of signaling whether another cut could come in the near term.
• Immediate resistance is located at 1.7554(Daily high), any close above will push the pair towards 1.7617(38.2%fib).
• Support is seen at 1.7467(38.2%fib) and break below could take the pair towards 1.7404(Lower BB).
Recommendation: Good to sell around 1.7530 with stop loss of 1.7630 and target price of 1.7450
