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FxWirePro : EUR/AUD maintains gains following Trump tariff talk confusion

• EUR/AUD  steadied on Monday after President-elect Donald Trump rejected a report about tariffs that had boosted the euro.

•President-elect Donald Trump denied a report suggesting his aides were considering tariffs on only critical imports. He called it  Fake News,  saying it misrepresented his trade policy plans.

• The Trump tariff news came at a time when the market was already gearing up for a busy week of economic data, including the non-farm payrolls report on Friday.

• On the data front, final revisions for December euro zone S&P PMIs came in higher than expected and German inflation increased more than expected.

• Immediate resistance is located at 1.6732(23.6% fib), any close above will push the pair towards 1.6806 (Higher BB).

• Strong support is seen at 1.6590 (38.2% fib) and break below could take the pair towards 1.6483(50% fib)

Recommendation: Good to sell around 1.6620, with stop loss of 1.6540 and target price of 1.6700

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