FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook

• The EUR/AUD eased slightly as investors gauged the impact of U.S. President Donald Trump's tariffs.

• A global trade war intensified as Trump threatened a 50% tariff on Chinese goods starting April 9, while the European Union proposed counter-tariffs on U.S. imports.

• The European Commission proposed 25% counter-tariffs on a range of U.S. goods on Monday in retaliation to President Donald Trump's tariffs on steel and aluminium.

• In addition to counter-tariffs, the EU tightened steel safeguards on April 1 to cut imports by 15% and is considering import quotas for aluminum.

• European Commission President Von der Leyen stated on Monday that the EU is open to negotiations with the U.S., though no concrete trade proposals have been presented yet.

• Immediate resistance is located at 1.83613(38.2%fib), any close above will push the pair towards 1.787(23.6%fib).

• Immediate support is seen at 1.8000(50%fib) and break below could take the pair towards 1.7898(April 8th low).

Recommendation: Good to buy around 1.8180, with stop loss of 1.8000 and target price of 1.8360