• EUR/AUD pair traded a relatively tight range on Wednesday as investors looked for signs of trade progress between US, China.
• Top U.S. officials, including Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer, criticized China’s significant expansion of rare-earth export controls, calling it a threat to global supply chains.
• The Chinese commerce ministry defended its rare-earths export controls, citing a series of U.S. measures on Chinese goods and companies and labeling the criticism as hypocritical..
• On the data front, Eurozone industrial production fell 1.2% month-on-month in August 2025, reversing a revised 0.5% gain in July and slightly outperforming market expectations of a 1.6% decline.
• Immediate resistance is located at 1.7950 ( 38.2%fib), any close above will push the pair towards 1.8056 (Higher BB)
• Support is seen at 1.7802 (SMA 20) and break below could take the pair towards 1.7570(50%fib).
Recommendation: Good to buy on rally around 1.7880, with stop loss of 1.7800 and target price of 1.8050
