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• EUR/AUD held steady on Thursday as traders assessed recent business activity data from both the Eurozone and United States
• Euro zone business activity unexpectedly contracted this month, HCOB's preliminary composite Purchasing Managers' Index showed on Thursday.
• U.S. business activity improved in May following a trade truce with China, but Trump’s broad tariffs on imports continued to drive up costs for businesses and consumers.
• S&P Global's flash U.S. Composite PMI rose to 52.1 in May from 50.6 in April, signaling continued expansion in the private sector.
• Immediate resistance is located at 1.7734(38.2% fib), any close above will push the pair towards 1.7812(Higher BB).
• Immediate support is seen at 1.7495 (50% fib) and break below could take the pair towards 1.72982(Lower BB).
Recommendation: Good to buy on dips around 1.7560, with stop loss of 1.7500 and target price of 1.7750.
