EUR/AUD faces strong resistance around 1.6130, break above targets 1.6280

EUR/AUD has made a high of 1.6129 and slightly retreated till 1.5886 from that level. It is currently trading at 1.6014 level.

• Overall trend is still bullish as long as support 1.5840 holds.
• Any break below 1.5840 will drag the pair further down till 1.5730/1.5700.
• On the higher side major resistance is around 1.6130 and any break above would extend gains till 1.6200/1.6280.

It is good to buy at dips around 1.5960-70 with SL around 1.5845 for the TP of 1.6200/1.6280.