• EUR/AUD initially dipped on Thursday but recovered ground as the pairs bullish allure persisted as the pair seized late bid.
• Focus turns to Fridays ' BoJ hearings, release of January's CPI and US PCE index.
• EUR/AUD steadied above 1.5562 level . Consolidation likely to continue while market seeks fresh factors.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 54 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.5641 (23.6%fib), any close above will push the pair towards 1.5661(Higher BB).
• Strong support is seen at 1.5530 (5 DMA) and break below could take the pair towards 1.5471 (38.2% fib )
Recommendation: Good to buy around 1.5550, with stop loss of 1.5270 and target price of 1.5620
