• EUR/AUD initially rose on Friday but give-up some ground as pair found resistence at (23.6% fib) 1.6589.
• EUR/AUD hit the highest point since June 1st 2020 on Friday . A decisive break and closure above (23.6% fib) 1.6589 could generate further gains
• Technical signals are bullish as lower bollinger band is turning up,while daily momentum studies 5, 9 are trending up.
• On the upside, Immediate resistance is located at 1.6589 (23.6% fib), any close above will push the pair towards 1.6798 (21 DMA)
• On the downside, support is seen at 1.6318(9 DMA ) and break below could take the pair towards 1.6280 (9 DMA ).
Recommendation: Recommendation: Good to buy around 1.6450, with stop loss of 1.6200 and target price of 1.6600.
