FxWirePro: EUR/AUD downside pressure builds, key support level in focus 
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FxWirePro: EUR/AUD downside pressure builds, key support level in focus 
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• GBP/AUD edged lower on Monday as rising oil prices and growing expectations of a Federal Reserve rate hike weighed on risk sentiment.
• Oil prices traded near six-week highs as U.S.-Iran strikes on vessels in and around the Strait of Hormuz kept crude oil flows constrained...
• The war’s inflationary impact has boosted expectations for interest rate hikes globally, while Friday’s strong U.S. jobs data further lifted bets that the Fed will raise rates this month...
• This week, an inflation reading in the U.S. and economic growth data for Britain will be parsed for more clues on how the economies are holding up.
• Immediate resistance is located at 1.8812(38.2%fib), any close above will push the pair towards 1.8962(SMA 20).
• Immediate support is seen at 1.8687(Lower BB) and break below could take the pair towards 1.8531(23.6%fib ).
Recommendation: Good to sell around 1.8800, with stop loss of 1.8900 and target price of 1.8740
