FxWirePro: EUR/AUD gains limited as investors focus on upcoming ECB policy decision

• EUR/AUD strengthened  on Wednesday, but gains were limited as investors awaited  the European Central Bank's policy meeting on Thursday.

• The European Central Bank is expected to cut interest rates for the seventh time this year on Thursday, aiming to support a struggling economy set to face a significant blow from U.S. tariffs.

• While the decision is widely expected, investors will closely analyze Lagarde's comments at a 12:45 GMT press conference for insights into future policy direction.

•  The ECB has been cutting borrowing costs quickly as price pressures ease, and recent global market turmoil may strengthen its belief that euro zone inflation is under control, supporting further policy easing.

• Immediate resistance is located at 1.7996(38.2%fib), any close above will push the pair towards 1.8366(23.6%fib).

•Immediate support is seen at 1.7688 (50%fib) and break below could take the pair towards 1.7452(April 4th low).

Recommendation: Good to buy around 1.7870, with stop loss of 1.7800 and target price of 1.7960