• EUR/AUD pair traded in a narrow range on Thursday, as market participants avoided making major moves ahead of Friday’s closely watched U.S. non-farm payrolls (NFP) report.
•With no major data releases from the Eurozone or Australia, focus remained firmly on U.S. labor market.
• The report is expected to provide important insights into the health of the U.S. labor market and help shape expectations regarding the Federal Reserve’s future interest rate path.
• Immediate resistance is located at 1.7900 ( April 30th high), any close above will push the pair towards 1.7957 (38.2%fib)
• Support is seen at 1.7642 (50%fib) and break below could take the pair towards 1.75470 (Lower BB).
Recommendation: Good to sell around 1.7690 with stop loss of 1.7600 and target price of 1.7770.
