• EUR/AUD dipped on Friday as broader risk-on environment and higher commodities support the Aussie..
• Gold prices rallied against a softer dollar and the U.S. Treasury's bond buyback move. Spot gold added 1.4%, while silver was up 1.6% .
• Oil prices were headed for second-straight weekly gains as theU.S. ramped up pressure on Iran. Brent crude futures added 0.1%, while WTI crude gained 0.2%.
• Meanwhile, money markets are bracing for an increasingly hawkish European Central Bank, with the stalemate between U.S. and Iran in the Middle East complicating outlook for inflation..
• Immediate resistance is located at 1.6392(38.2%fib), any close above will push the pair towards 1.6480(Higher BB)
• Support is seen at 1.6237(Lower BB)and break below could take the pair towards 1.6150(23.65fib)
Recommendation: Good to sell around 1.6300 , with stop loss of 1.6460 and target price of 1.6220
