FxWirePro: EUR/AUD getting back on track for a run towards 1.6000
• EUR/AUD recovered ground from initial decline on Wednesday as Omicron concerns moved to the background.
• EUR/USD has stormed back above 1.1336 recovering from 1.5807.It is last trading at 1.5931.
• EUR/AUD technical outlook is solid in short-term as RSI has turned higher, moving averages are trending north.
• Immediate resistance is located at 1.5956( 38.2%fib), any close above will push the pair towards 1.6000 ( Psychological level).
• Immediate support is seen at 1.5903 (Ichimoku Cloud Top) and break below could take the pair towards 1.5863 (38.2%fib).
Recommendation: Good to buy around 1.5900, with stop loss of 1.5800 and target price of 1.6000.