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FxWirePro : EUR/AUD attracts buying interest, 50% fibonacci eyed

• EUR/AUD  edged  higher on Tuesday   as sentiment around the Middle East conflict remained cautious.

•Hopes for ​a durable easing in tensions were tempered after Israel struck the historic port city of Tyre in ​southern Lebanon on Tuesday, killing at least eight people.

Tehran had warned on Monday it ⁠would resume hostilities if Israel continued attacks on its ally Hezbollah in Lebanon.

•The European Central Bank is widely expected ​to raise interest rates by ​25 basis points on ⁠Thursday as inflation worries persist, though investors will be watching closely for guidance on how much further policymakers may go..

• Immediate resistance is located at 1.6457(Psychological level), any close above will push the pair towards 1.6600 (50% fib).

• Strong support is seen at 1.6371(50% fib) and break below could take the pair towards 1.6284(61.8% fib)

Recommendation: Good to buy around 1.6410, with stop loss of 1.6250  and target price of 1.6480

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