• EUR/AUD rose sharply on Friday as the market's risk-off mood put pressure on the Australian dollar.
• China announced it will impose additional tariffs of 34% on all U.S. goods from April 10.
• Trump announced he would impose a 10% baseline tariff on all imports to the United States, with even higher duties on some of the country’s largest trading partners.
• China is facing a total tariff burden of around 64%, which includes a 10% duty imposed by Trump during his first term, in addition to the new tariffs announced.
• Immediate resistance is located at 1.8311(Daily high), any close above will push the pair towards 1.8425(23.6%fib).
• Immediate support is seen at 1.7999 (38.2%fib) and break below could take the pair towards 1.7668 (38.2%fib).
Recommendation: Good to buy on dips around 1.8120 with stop loss of 1.8000 and target price of 1.8120 .
