FxWirePro: EUR/AUD breaks above 100-DMA, on track to test trendline resistance at 1.44

• EUR/AUD has broken above 100-DMA and intraday bias is higher.
   
• Upbeat reading from German IFO for the month of March have lent some support to the single currency.
   
• Price action has broken above daily cloud which now acts as major support.
   
• The pair is on track to test major trendline resistance at 1.44 levels. Violation there could see gains upto 200-DMA at 1.4414.
   
• Momentum studies are highly bullish, but Stochs at overbought zone would warrant some caution.

Support levels - 1.4221 (cloud base), 1.4181 (5-DMA), 1.4158 (100-DMA)

Resistance levels - 1.44 (trendline & 38.2% Fib), 1.4414 (200-DMA), 1.4489 (Nov 21 high)

TIME  TREND INDEX  OB/OS INDEX    

1H          Bullish                Neutral       
4H          Bullish                Neutral       
1D          Bullish                Neutral        
1W         Bullish                Neutral      

Recommendation: Good to go long on dips around 1.4260, SL: 1.4215, TP: 1.43/ 1.44/ 1.4415

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 89.2769 (Bullish), while Hourly AUD Spot Index was at -105.891 (Bearish) at 0635 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.