FxWirePro: EUR/AUD retreats slightly but trend is still bullish

• EUR/AUD dipped on Tuesday  as hopes of de-escalation in the Middle East improved sentiment .

•  Sentiment was boosted on Tuesday after the Wall Street Journal reported that U.S. President Donald Trump told aides he was willing to end the military campaign against Iran even if the Strait of Hormuz remained largely closed.

• The war, which began with the U.S. and Israel launching coordinated strikes against Iran in late February, has sent shockwaves across global markets and raised the risk of a worldwide recession...

•The European Union's energy chief has told governments to prepare for "prolonged disruption" to energy markets as a result of the war, ahead of an emergency meeting on Tuesday..

• Strong  resistance is located at 1.6830(38.2% fib), any close above will push the pair towards 1.6874(Higher BB)

• Immediate support is seen at 1.6685 (38.2% fib) and break below could take the pair towards 1.6555(50% fib).

  Recommendation: Good to buy  around 1.6700, with stop loss of 1.6640  and target price of 1.6760