• EUR/AUD dipped on Friday as Australian dollar was boosted by precious metals gains.
• Precious metals, gold advanced with help from bargain-hunting, a slightly weaker dollar . Silver recovered from a 1-1/2-month low.
• Gold, a traditional safe haven, does well in times of geopolitical and economic uncertainty.
• Meanwhile, RBA Governor Bullock defended this week’s rate hike, saying the economy is hitting capacity limits and inflation has been more persistent than expected..
• Strong resistance is located at 1.7049(38.2% fib), any close above will push the pair towards 1.7157 (SMA 20)
• Immediate support is seen at 1.6773 (23.6% fib) and break below could take the pair towards 1.6670 (Lower BB).
Recommendation: Good to sell around 1.6860, with stop loss of 1.6950, and target price of 1.6800,
