• EUR/AUD traded sideways on Wednesday as investors tracked global trade negotiation progress and developments in U.S. tax policy.
• Fears over U.S. trade policy are back in focus as the July 9 deadline nears, fueling uncertainty around global economic prospects.
• Attention also turned to Trump’s $3.3 trillion fiscal package, aimed at slashing taxes and social spending, even as it adds significantly to the national debt.
• Meanwhile, Eurostat data showed the eurozone jobless rate edged up to 6.3% in May, compared to 6.2% the previous month.
• Immediate resistance is located at 1.8014(38.2%fib), any close above will push the pair towards 1.8141(Higher BB)
• Strong support is seen at 1.7801 (SMA 20) and break below could take the pair towards 1.7683(50%fib).
Recommendation: Good to buy around 1.7910, with stop loss of 1.7740 and target price of 1.8000
