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FxWirePro:EUR/AUD bulls rebuilding within solid support at 1.6110

• EUR/AUD initially dipped on Wednesday but recovered  as market jitters over Chinese property developer Evergrande eased.

•  Long upper wicks on recent daily chart imply EUR/AUD is likely consolidate higher.

• Technical signals are bullish as RSI is higher at 55, daily momentum studies  5, 9 and 11 DMAs are trending up. 

• Immediate resistance is located at 1.6195 ( 38.2% fib), any close above will push the pair towards 1.6225 (Higher BB)

• Support is seen at 1.6110 (50%fib ) and break below could take the pair towards 1.6017 (61.8%fib).

Recommendation: Good to buyaround 1.6150 with stop loss of 1.6030 and target price of 1.6210.
 

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