• EUR/AUD strengthened on Friday as the pair was supported by short-covering, month-end flows .
• Crude prices tumbled on easing supply concerns as more oil tankers exited the Strait of Hormuz, even though a cargo vessel was hit near Oman on Thursday.
• The European Central Bank Sintra forum kicks off Monday with panels featuring top central bankers, including the Fed Chair Kevin Warsh.
• Traders are reassessing whether the European Central Bank (ECB) will raise interest rates again as easing energy prices reduce inflation concerns.
.• Immediate resistance is located at 1.6525(50%fib), any close above will push the pair towards 1.6580(Higher BB)
• Support is seen at 1.6435( Daily low) and break below could take the pair towards 1.6372(61.8%fib).
Recommendation: Good to buy around 1.6500, with stop loss of 1.6370 and target price of 1.6700
