FxWirePro: EUR/AUD upside limited, scope for a dive through A key fiboeur

• The EUR/AUD edged high  on Friday as euro gained traction after upbeat Euro zone business activity data.

• Sentiment was also boosted after the White House confirmed on Thursday that President Donald Trump will meet with his Chinese counterpart next week.

• Eurozone business activity picked up unexpectedly in October, with new orders rising at the fastest pace in two-and-a-half years, signaling stronger economic momentum at the start of the final quarter, a survey showed Friday.

• The HCOB Flash Eurozone Composite PMI, compiled by S&P Global, climbed to 52.2 in October from 51.2 in September, marking the tenth straight month of expansion, hitting a 17-month high, and exceeding forecasts of 51.0.

•  Eurostat data released on Thursday showed that the Eurozone’s trade surplus narrowed to €1 billion in August, down from €3 billion a year earlier.

• Immediate resistance is located at 1.8000(Psychological level), any close above will push the pair towards 1.8024(Higher BB).

• Immediate support is seen at 1.7852(50%fib) and break below could take the pair towards 1.7627(Lower BB).

Recommendation: Good to sell around 1.7900, with stop loss of 1.7960 and target price of 1.7870