• EUR/AUD traded in tight range on Wednesday as investors assessed report on Trump's potential tariff plans.
• CNN reported, citing sources, that Trump was considering declaring a national economic emergency to justify universal tariffs on both allies and adversaries.
• Euro zone inflation accelerated in December, leading traders to reduce expectations of ECB rate cuts later in the year, though they still expect a 25 bps cut in January and March.
• Data on Wednesday showed that German industrial orders and retail sales unexpectedly dropped in November, while euro zone economic sentiment declined in December..
• Immediate resistance is located at 1.6643 ( 38.2%fib), any close above will push the pair towards 1.6785(23.6%fib)
• Strong support is seen at 1.6519(50 %fib ) and break below could take the pair towards 1.6441(Lower BB).
Recommendation:Be on side-lines
