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• EUR/AUD strengthened on Wednesday as euro outperformed Australian dollar as geopolitical tensions eased over missile hit.
•The pair is approaching 30DMA,a daily close above will accelerate towards 1.5550 level in the short term.
• From a technical viewpoint, the moving averages are pointing upwards , while the RSI is bullish at 51.
• Immediate resistance is located at 1.5477( 30DMA), any close above will push the pair towards 1.4825 ( 38.2%fib).
• Strong support is seen at 1.5281 (38.2%fib) and break below could take the pair towards 1.5192 (Oct 6th low).
Recommendation: Good to buy around 1.5420, with stop loss of 1.5330 and target price of 1.5530.
