FxWirePro: EUR/AUD steadies around 1.6750, retains bid tone

• EUR/AUD gained on Friday  as escalating concerns that the conflict with Iran could intensify drove a risk-off tone, weighing on Australian dollar.   

•  Trump extended a deadline for Iran to reopen the Strait of Hormuz, but Iran has given no direct indication that it was ready to negotiate.

• Iran’s Islamic Revolutionary Guard Corps reiterated it would continue to disrupt shipping through the strait, which is used to ship roughly one-fifth of the world's oil and gas supply..

• Brent crude futures   rose 4.22% to settle at $112.57 a barrel. U.S. West Texas Intermediate futures  settled up 5.4% at $99.64

• Technically, the outlook remains bullish, with the pair trading above its 5-, 9- and 10 day moving averages. Momentum indicators such as RSI continue to point higher

• Strong  resistance is located at 1.6777 (Daily high), any close above will push the pair towards 1.6850 (Higher BB)

•    Immediate support is seen at 1.6587 (38.2%fib) and break below could take the pair towards 1.6449(SMA 20).

  Recommendation: Good to  buy   around 1.6750  with stop loss of 1.6680 and target price of 1.6810