FxWirePro: EUR/AUD gains some upside momentum but still bearish

• EUR/AUD strengthened on Friday as  lower  commodity price and  as soured   risk sentiment  weighed on  Australian dollar.

•  Gold prices fell by 1.8% on Friday as the dollar strengthened on a report that the United States will deploy extra troops in the Middle East.

• Spot silver   fell 4.8% to $69.39. Platinum   dropped 0.9% to $1,953.18 and palladium slipped 1.6% to $1,423.59. All three metals were on track for weekly declines.

• Crude was lower earlier in the day after the U.S. outlined moves to manage the oil supply crisis, while leading European nations, Japan and Canada offered to join efforts to secure safe passage for ships through the Strait of Hormuz.

• Strong  resistance is located at 1.6500 (38.2% fib), any close above will push the pair towards 1.6710 (March 2nd high)

• Immediate support is seen at 1.6303 (Daily low) and break below could take the pair towards 1.6139 (23.6%fib).

  Recommendation: Good to sell   around 1.6500  with stop loss of 1.6580  and target price of 1.6410