FxWirePro: EUR/AUD trades flat but outlook is bullish

• EUR/AUD initially dipped but recovered ground  on Wednesday  as escalation in Middle East tensions. rattled investors 

• Trump said an interim agreement to end the war with Iran was "over" and that the United States was likely to launch new strikes on Wednesday night following Iranian attacks on U.S. bases in the Gulf.

• However, Trump also said he did not expect a return to full-fledged war, and it was not immediately clear whether the negotiations on reaching a permanent deal would carry on.

• Oil prices jumped, with U.S. crude CLc1 up4.36% to $73.51 a barrel and Brent LCOc1 climbing to $78 per barrel, up 5.23% on the day. U.S. Treasury yields also climbed.

• Immediate resistance is located at 1.6577(50% fib), any close above will push the pair towards 1.6584(Higher BB).

• Immediate support is seen at 1.6488(SMA 20) and break below could take the pair towards 1.6345(61.8%fib).

Recommendation: Good to buy around 1.6450, with stop loss of 1.6370  and target price of 1.6550