• 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
