FxWirePro: EUR/AUD heads deeper into bear territory, 23.6%fib fibonacci eyed

• EUR/AUD   dipped on Wednesday   as investors questioned the durability of the U.S.–Iran ceasefire  .

•  U.S. President Donald Trump's unilaterally declared ceasefire extension in the Iran war, and oil resumed its upward climb after Iran challenged the fragile truce by seizing two cargo ships in the Strait of Hormuz.

• Iran seized two ships in the Strait of Hormuz on Wednesday, tightening its grip on the strategic waterway, after Trump called off attacks indefinitely with no sign of peace talks restarting.

• Markets have been swayed by alternating bouts of optimism that a deal is within reach and fears that the conflict could drag on, causing prolonged disruptions to energy markets.

•   Immediate resistance is located at 1.6428 ( 38.2%fib), any close above will push the pair towards 1.6571 (SMA 20)

• Support is seen at 1.6293(Lower BB) and break below could take the pair towards 1.6180(23.6%fib).

Recommendation: Good to sell   around 1.6360, with stop loss of 1.6460 and target price of 1.6200