• EUR/AUD traded in tight range on Tuesday as investors were caution ahead of major central bank decisions later this week.
• Markets will pay close attention to policy meetings at the European Central Bank and the Bank of England this week for any signs they could hike rates to curb price pressures.
• Progress on U.S.-Iran peace talks stalled after a U.S. official said President Donald Trump was unhappy with the latest Iranian proposal to end the two-month war.
• Meanwhile, a key ECB survey showed Euro zone consumers sharply raised their inflation expectations in March.
• Immediate resistance is located at 1.6466(38.2%fib), any close above will push the pair towards 1.6496 (SMA 20)
• Support is seen at 1.6227 (Lower BB) and break below could take the pair towards 1.6159(23.6%fib).
Recommendation: Good to sell around 1.6480, with stop loss of 1.6560 and target price of 1.6400
