• EUR/AUD steadied around 1.7630 as investors cautiously awaited details of US –EU trade talks.
• The European Commission said Monday it will push the U.S. to cut or remove tariffs, despite Donald Trump's plan to double steel and aluminium duties to 50%.
• Euro zone manufacturing neared stabilisation in May, with production up for a third month and demand steady, a survey showed Monday..
• The HCOB Eurozone Manufacturing PMI rose to 49.4 in May from 49.0 in April, a 33-month high and matching the flash estimate, but still below the 50.0 mark indicating growth.
• Immediate resistance is located at 1.7786(Higher BB), any close above will push the pair towards 1.7898(38.2% fib).
• Immediate support is seen at 1.7559(50% fib) and break below could take the pair towards 1.7286(Lower BB).
Recommendation: Good to buy around 1.7630, with stop loss of 1.7560 and target price of 1.7700.
