FxWirePro: EUR/AUD in narrow range, bias bearish

• EUR/AUD recovered some ground  on Tuesday as risk aversion intensified amid escalating conflict in the Middle  .

• On Tuesday, U.S. President Donald Trump sought to justify a broad, open-ended war on Iran saying he had "a feeling" Iran would attack after nuclear negotiations stalled.

• Israel's military said it struck an Iranian compound aiming to develop "necessary capabilities" for nuclear weapons, without providing evidence.

• The war, in its fourth day, has intensified as Israeli and U.S. forces pounded targets across Iran, prompting Iranian retaliatory strikes around the Gulf while Israel also attacked Lebanon.

• Technical signals are bearish as RSI is at 27, momentum studies  11,14  and 21 DMAs are trending down. 

• Strong  resistance is located at 1.6585(38.2%fib), any close above will push the pair towards 1.6688(SMA 20)

• Immediate support is seen at 1.6425 (23.6% fib) and break below could take the pair towards 1.6391(Lower BB).

  Recommendation: Good to sell   around 1.6530, with stop loss of 1.6600  and target price of 1.6450