FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption

•    EUR/AUD traded flat on Thursday as caution over the Middle East war kept markets in a tight range .

• The U.S. intensified its military campaign on Wednesday with two rounds of air strikes following the reimposition of a naval blockade on Iranian ports. In retaliation, Iran targeted U.S. military bases in neighboring countries with missiles and drones while closing the Strait of Hormuz.

• Iran has reportedly asked Yemen's Houthi movement to be prepared to block the Red Sea oil route if the United States targets Iranian power infrastructure..

• Oil prices   rose 0.77% to $85.59 on Thursday as escalating U.S.-Iran conflict heightened energy supply concerns after Tehran asked Yemen's Houthis to stand ready to disrupt shipping through the Red Sea..

• Renewed U.S.-Iran hostilities have prompted investors to ramp up bets for ⁠at least one 25-basis-point rate hike by the European Central Bank by the end of the year.

•  Immediate resistance is located at 1.6453(38.2%fib), any close above will push the pair towards 1.6499(July 8th high)

• Support is seen at 1.6313(23.6%fib)and break below could take the pair towards 1.6287 (Lower BB)

Recommendation: Good to sell around 1.6360 , with stop loss of 1.6420 and target price of 1.6300