• EUR/AUD maintained its strength on Monday as the dust settled on French election results.
• Far right won the first round of the French election,Political dealmaking this week will precede Sunday's final French vote .
• The pair trades solidly at 1.6124 level and has thus far avoided sliding below the critical 50% fib support line.
• From a technical viewpoint, RSI is turning up, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.6152 (38.2%fib), any close above will push the pair towards 1.6202(23.6%fib).
• Immediate support is seen at 1.6107 (50%fib) and break below could take the pair towards 1.6065(61.8%fib).
Recommendation: Good to buy around 1.6110 , with stop loss of 1.6050 and target price of 1.6180
