• EUR/AUD slipped lower on Tuesday as the RBA’s decision to leave interest rates unchanged boosted demand for the Aussie.
•Australia’s central bank held its cash rate at 3.85% on Tuesday, surprising markets that had largely expected a cut.
•Policymakers indicated that with inflation risks now more evenly distributed, they would wait for the upcoming second-quarter price report before taking further action.
•The central bank chief noted that the worst-case scenario on U.S. tariffs had been avoided, but emphasized that the imposed levies remain elevated compared to previous levels.
•Technical signals are bullish as RSI is heading up at 60, daily momentum studies 5, 9 and 11 DMAs are trending north.
• Immediate resistance is located at 1.8076(Higher BB), any close above will push the pair towards 1.8304(23.6%fib)
•Support is seen at 1.7828 (38.2%fib)and break below could take the pair towards 1.7650 (Lower BB)
Recommendation: Good to buy around 1.7930 , with stop loss of 1.7700 and target price of 1.8000
