FxWirePro: EUR/AUD edges lower ahead of RBA rate decision

• EUR/AUD  eased slightly on Monday as   investors assessed the possibility of a U.S. government shutdown and awaited RBA rate decision.  

• President Donald Trump will meet congressional leaders Monday to discuss funding, with a shutdown and new U.S. tariffs set to take effect Wednesday if no deal is reached.

• The Reserve Bank of Australia is expected to keep the official cash rate (OCR) steady at 3.60% on Tuesday, while signaling that any future rate cuts will depend on incoming economic data.

 • Domestic economic growth picked up in Q2, driven by lower borrowing costs and easing inflation, though unemployment data has shown mixed signals.   

• The global outlook for growth and inflation remains uncertain, weighed down by ongoing trade tensions and pressure from U.S. President Donald Trump on the Federal Reserve to cut interest rates.

• Immediate resistance is located at 1.7871(50%fib), any close above will push the pair towards 17967(Higher BB)

• Support is seen at 1.7795(SMA 20) and break below could take the pair towards 1.7747(61.8%fib)

Recommendation: Good to buy  around 1.7800 with stop loss of 1.7750 and target price of 1.7860