• EUR/AUD edged lower on Wednesday as traders tried to process the implications of a potential end to the U.S. government shutdown and remarks from ECB policymaker Isabel Schnabel.
• Investors are assessing competing narratives in relation to the U.S. government shutdown coming to an end.
• Members of the House of Representatives will vote later on Wednesday on a deal that would restore funding to government agencies and end the 42-day-old shutdown..
• On the data front,German inflation slowed slightly in October to 2.3%, the federal statistics office said on Wednesday, confirming preliminary data..
• Immediate resistance is located at 1.6305(38.2%fib), any close above will push the pair towards 1.6405 (Oct 3rd high).
• Support is seen at 1.771(38.2%fib) and break below could take the pair towards 1.7566(23.6%fib).
Recommendation: Good to buy around 1.7710 , with stop loss of 1.7650 and target price of 1.7780
