FxWirePro: EUR/AUD extends drop, eyes 1.7350 level

• EUR/AUD declined on Tuesday as tariff concerns and geopolitical tensions overshadowed market sentiment, with focus shifting to the Fed's policy meeting.

• On Monday, U.S. President Donald Trump indicated plans to announce new tariffs on pharmaceutical products within two weeks, following his sunday announcement of 100% tariffs on overseas-produced movies.

• Investors are closely monitoring the Federal Reserve's upcoming policy announcement. While the Fed is expected to maintain current interest rates, any indications of future policy shifts could influence global financial markets

• Meanwhile, a recent survey showed the euro zone economy grew in April, but at a slower pace, with weakened demand and near-stagnation in the services sector, indicating a fragile recovery.

• Immediate resistance is located at 1.8081(38.2%fib), any close above will push the pair towards 1.8307(April 4th high).

• Immediate support is seen at 1.7362(61.8%fib) and break below could take the pair towards 1.7276(Lower BB).

Recommendation: Good to sell around 1.7450, with stop loss of 1.7550 and target price of 1.7350