• EUR/AUD rose higher on Tuesday as robust Eurozone services data boosted euro.
• Activity in the Euro bloc's dominant services industry grew this month at its fastest pace since June and its PMI bounced to 53.0 from 50.8, above all estimates.
• EUR/AUD bulls confidence is running high, a rise towards 1.5600 level is likely.
• From a technical viewpoint, RSI is strongly bullish at 54, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.5544 (38.2%fib), any close above will push the pair towards 1.5590 (Higher BB).
• Immediate support is seen at 1.5498(5DMA) and break below could take the pair towards 1.5438(50%fib).
Recommendation: Good to buy on dips around 1.5500, with stop loss of 1.5420 and target price of 1.5580
