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FxWirePro: EUR/AUD slides as traders stay defensive ahead of key week

• The EUR/AUD dipped on Monday as markets adopted a wait-and-see approach as the Group of Seven (G7) leaders convene to address a growing list of global challenges.

• Investors are closely monitoring the G7 for signals on geopolitical coordination, trade, and policy alignment amid Middle East tensions and inflation concerns.

• The Federal Reserve’s policy decision later this week is keeping markets on edge, as investors await new signals on interest rates and inflation amid rising global uncertainty. 

• Immediate resistance is located at 1.7780(Higher BB ), any close above will push the pair towards 1.7883(50% fib).

• Strong support is seen at 1.7647(61.8% fib) and break below could take the pair towards 1.7460(Lower BB).

Recommendation: Be on sidelines
 

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