• EUR/AUD eased on Wednesday as traders assessed the potential impact of U.S. President Donald Trump's latest tariff threats.
• Trump has announced plans to impose 25% tariffs on imported automobiles, semiconductors, and pharmaceutical products, with further details expected to be revealed by April 2.
• Market participants are closely monitoring further developments, as the imposition of tariffs could significantly disrupt global trade dynamics and further contribute to economic slowdowns.
• Technical signals are bearish as RSI is heading down at 38, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is at 1.6464(Daily high), with a close above potentially pushing the pair to 1.6514 (50% fib).
• Support is at 1.6388(38.2% fib), and a break below could push the pair towards 1.6324 (Lower BB).
Recommendation: Good to sell around 1.6430, with stop loss of 1.6500 and target price of 1.6360
