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FxWirePro: EUR/AUD attracts buying interest, 38.2% fibonacci eyed

• EUR/AUD rose higher on Thursday  as   soured risk sentiment and soft Australian  jobs data knocked the risk-sensitive Australian dollar.

• Figures from the Australian Bureau of Statistics (ABS) on Thursday showed net employment fell 14,600 in December from November, when it surged by a revised 58,200,.

• The pair is currently approaching resistance at 38.2%fib. Break above is likely push the pair towards 1.5850 level.

• Technical signals are turning bullish as RSI is turning higher at 55, daily momentum studies  5, 9 and 10 DMAs are trending up.

•   Immediate resistance is located at 1.5751( 38.2%fib), any close above will push the pair towards 1.5869 ( 29th Dec high)

•  Strong support is seen at 1.5588 (50%fib) and break below could take the pair towards 1.5529 (5DMA).

 Recommendation: Good to buy around 1.5650, with stop loss of 1.5590 and target price of 1.5730.

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