FxWirePro: EUR/AUD dips amid risk-on rally

• EUR/AUD dipped   on Monday as    Australian dollar firmed  as risk sentiment was boosted by signs the U.S. federal government is closer to reopening.

• The longest U.S. government shutdown may end this week after a funding compromise advanced in the Senate Sunday, though it’s uncertain when Congress will give final approval.

• The historic federal shutdown has caused a data gap for both the Federal Reserve and markets, forcing reliance on private data that offers a mixed view of the economy.

• Some Fed officials reiterated their caution regarding the monetary policy decision at the central bank's next meeting, while Fed Governor Stephen Miran repeated his call for a big rate cut.

• Immediate resistance is located at 1.7775(SMA 20), any close above will push the pair towards 1.7831(50 % fib).

• Support is seen at 1.7672 (61.8 % fib) and break below could take the pair towards 1.7552 (Lower BB).

Recommendation: Good to buy  around 1.7680, with stop loss of 1.7600 and target price of 1.7780