• EUR/AUD traded in tight range on Friday as coronavirus-driven panic kept investors cautious.
• Price consolidates around the 1.8000. If the uncertain coronavirus outlook is unchanged, range trading is viable.
• Technical signals are neural as RSI has turned flat at 56, momentum studies, 5, 10 & 21 DMAs conflict neutral setup.
• On the upside, Immediate resistance is located at 1.8101 ( 9 DMA), any close above will push the pair towards 1.8164 (50% fib)
• On the downside, support is seen at 1.7845 (38.2 %fib ) and break below could take the pair towards 1.7402 (23.6% fib).
Recommendation: Be on sidelines
