FxWirePro: EUR/AUD runs out of steam but maintains bullish outlook

• EUR/AUD  eased  on Wednesday    as investors awaited signs of progress on a trade accord between the United States and the European Union.

• In the latest trade developments, the EU stated it could reach a preliminary trade agreement with the United States within the next few days.

• U.S. President Donald Trump said Tuesday he was likely two days away from sending the EU a letter detailing the tariff rate on its exports to the U.S.

• While investors welcomed the shift of the trade deadline to August 1, Trump warned that no additional extensions would be granted.

•  Immediate resistance is located at 1.8066 (38.2%fib), any close above will push the pair towards 1.820 (Higher BB)

• Strong support is seen at 1.7874(July 3rd low) and break below could take the pair towards 1.7677(50%fib).

Recommendation: Good to buy   around 1.7920, with stop loss of 1.7850 and target price of 1.8000