• EUR/AUD strengthened on Friday as Australian dollar slid amid a weaker yuan and slumping commodity prices after a disappointing China stimulus package.
• A day after the Federal Reserve rate cut, attention shifted back to the aftermath of Tuesday's U.S. presidential election and the latest developments from Beijing.
• Oil prices slumped more than 2% as fears of Gulf of Mexico supply disruptions waned.
• Gold dipped 0.80% amid dollar strength. Copper slid 2.95% on disappointment over China's stimulus package.
• Immediate resistance is located at 1.6513 (38.2%fib), any close above will push the pair towards 1.6600(Psychological level)
• Support is seen at 1.6418(38.2 %fib ) and break below could take the pair towards 1.6335(50 %fib).
Recommendation: Be on side-lines
