• EUR/AUD rose higher on Tuesday as euro was boosted by hawkish comments from European Central Bank President Christine Lagarde.
• At GMT 16:02, the pair was trading up 0.41 percent at 1.6400, its highest level since June 1st
• Technical signals are turning bullish as RSI is turning higher at 35, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.6416( 23.6%fib), any close above will push the pair towards 1.6460 ( Higher BB)
• Strong support is seen at 1.6282 (5 DMA ) and break below could take the pair towards 1.6196 (38.2% fib).
Recommendation: Good to buy around 1.6380, with stop loss of 1.6290 and target price of 1.6460
