• EUR/AUD gained on Thursday as euro was favoured as investors remained focused on the US stimulus package talks.
• EUR/ AUD traded as high as 1.6537 and is trading around 1.6505 in US afternoon.
• Technical signals highlight upside bullish trend as daily RSI is rising at 57, a daily bull hammer has formed on Aug 11th and EUR/AUD is trading above short term moving averages.
• Immediate resistance is located at 1.6573 (38.2% fib), any close above will push the pair towards 1.65890 (200 DMA).
• Immediate support is seen at 1.6471 (50% fib) and break below could take the pair towards 1.6398 (61.8% fib).
Recommendation: Good to buy on dips around 1.6500, with stop loss of 1.6270 and target price of 1.6600.
