• EUR/AUD initially dipped but recovered some ground as traders digested Eurozone economic data and awaited fresh catalyst.
• Eurostat data showed the euro zone economy grew modestly in Q3, while the September trade surplus jumped on strong U.S. demand.
• The economy grew 0.2% in the quarter, matching the initial October estimate, with gains in France and Spain offsetting Germany’s third year of stagnation.
• Separate data showed the trade surplus jumped to €19.4 billion in September from €1.9 billion in August, driven by faster export growth to the US despite earlier tariff-related demand pressures.
• Immediate resistance is located at 1.7889(Daily high), any close above will push the pair towards 1.7992 (Higher BB).
• Support is seen at 1.7752(SMA 20) and break below could take the pair towards 1.7630 (50%fib).
Recommendation: Good to buy around 1.7750 with stop loss of 1.7650 and target price of 1.7900
