FxWirePro: EUR/AUD Key support held early, but negative factors build

• EUR/AUD drifted lower  on Thursday as investors digested President Donald Trump's address to the World Economic Forum in Davos.

• Investor anxiety is rising as Trump's ongoing protectionist rhetoric takes center stage, with a pledge to impose tariffs on the European Union expected by February 1. This uncertainty is further.

• President Donald Trump spoke remotely at the World Economic Forum in Davos, urging an immediate interest rate cut in the U.S. and encouraging other nations to follow suit.. 

• Eurozone consumer confidence remained steady, providing little relief, while French industrial confidence fell to 95 points in January, down from 97 in December..

• Immediate resistance is located at 1.6696 ( 23.6%fib), any close above will push the pair towards 1.6765 (Higher BB).

• Immediate support is seen at 1.6558(38.2%fib) and break below could take the pair towards 1.6505 (Lower BB).

Recommendation: Good to sell   around 1.6580 with stop loss of 1.6640 and target price of 1.6500.