FxWirePro: EUR/AUD downward momentum remains in place

• EUR/AUD dipped on Friday    as investors clung to hopes that a proposed deal to extend a Middle East ceasefire.

• Market optimism rose after reports that U.S. President Donald Trump was considering an initial U.S.-Iran agreement. He said he would make a final decision on the deal by Friday..

• An Iranian source told Reuters a political understanding with the U.S. has been reached but not finalized, and denied Trump’s claim that the U.S. would uncover uranium..

• Prices of crude oil, a key resource for energy-deficient Europe, slipped and were on track for their first weekly drop in two months. 
  
•  Immediate resistance is located at 1.6387(Higher BB), any close above will push the pair towards 1.3435(38.2%fib)

• Support is seen at 1.6152(23.6%fib) and break below could take the pair towards 1.6114 Lower BB).

Recommendation: Good to sell   around 1.6250, with stop loss of 1.6300 and target price of 1.6170