FxWirePro: EUR/AUD uptrend stalled , progress needed soon to maintain momentum

• EUR/AUD traded in a tight range on Monday as investors awaited Donald Trump's return to the White House for new insights into his stance on tariffs and international relations.  

•Traders have been concerned that his threats of tariffs on China and other countries would stoke inflation and weigh on global growth.

• Global markets felt a sense of relief on Monday after Trump was quoted saying he would not impose U.S. tariffs at his inauguration.

• Immediate resistance is located at 1.6331(38.2%fib), any close above will push the pair towards 1.6384(Higher BB)

• Support is seen at 1.6258(50%fib) and break below could take the pair towards 1.6176(61.8%fib)

Recommendation: Good to buy around 1.6570, with stop loss of 1.6500 and target price of 1.6660