• EUR/AUD steadied on Wednesday as investors focus turned to Eurozone employment data on Q2 GDP on Thursday for ECB rate trajectory.
• Euro zone employment and gross domestic product numbers due later in the week will act as major tests of the European economy's health ahead of the ECB's policy meeting on Sept. 14.
• A close above 23.6%fib resistance , should trigger a new bullish phase with potential for 1.7000.
• 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 1.6908( 23.6%fib), any close above will push the pair towards 1.7005 ( Higher BB)
• Strong support is seen at 1.6768 (5 DMA ) and break below could take the pair towards 1.6725(38.2% fib).
Recommendation: Good to buy around 1.6790, with stop loss of 1.6670 and target price of 1.6860
