FxWirePro: EUR/AUD resumes downside after failing to break key fib level

• EUR/AUD initially gained  but gave up some ground as investors digested  from release of the Federal Reserve’s October meeting minutes.

• Late on Wednesday, US President Donald Trump signed the legislation ending a 43-day government shutdown and enabling the release of a backlog of US macroeconomic data..

• The minutes noted that one official favored an immediate halt to quantitative tightening (QT), with Fed Governor Stephen Miran confirming Wednesday in a speech that he cast the dissenting vote..

•Looking ahead, investors will watch EU economic indicators due Thursday, including November’s consumer confidence survey (poll at -14.0) and PMI data, which could influence euro sentiment further.

•  Immediate resistance is located at 1.7887(Daily high), any close above will push the pair towards 1.7925 (38.2%fib).

•  Support is seen at 1.7746(50%fib) and break below could take the pair towards 1.7566(61.8%fib).

Recommendation: Good to sell around 1.7800, with stop loss of 1.7880  and target price of 1.7750