• EUR/AUD retreated on Monday as traders digest remarks from European Central Bank President Christine Lagarde
• European Central Bank (ECB) President Christine Lagarde said the euro zone was getting very close to reaching 2%
• Lagarde opposed Europe's retaliation to U.S. tariff threats under President Trump, fearing it would further harm the bloc's risk assets.
• The euro erased earlier gains against the Australian dollar , the pair was last down at 0.02% at 1.6651.
• Immediate resistance is located at 1.6723 ( 23.6%fib), any close above will push the pair towards 1.6771 (Higher BB).
• Immediate support is seen at 1.6590(38.2%fib) and break below could take the pair towards 1.6486 (50%fib)..
Recommendation: Good to sell around 1.6630, with stop loss of 1.6540 and target price of 1.6700.
