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FxWirePro: EUR/AUD uptrend resumes rise towards key fibo

• 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  .
 

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