FxWirePro: EUR/AUD bulls need to hold above key tech level to advance

• EUR/AUD strengthened on Tuesday as optimism on Russia-Ukraine peace talks squeezed EUR shorts.

•On Wednesday, investors will scrutinize U.S. retail sales along with the Fed's economic and rates projections, as well as Chair Jerome Powell's post-meeting comments to assess the potential for further monetary policy divergence from the ECB.

• The pair is currently approaching resistance at 1.5287 (38.2%  fib). A break above will push the pair towards 1.5450 level.

• Technical signals are bullish as RSI is rising , daily momentum studies  5, 9 and 10 DMAs are trending up. 

  Immediate resistance is located at 1.5287 (38.2%  fib), any close above will push the pair towards 1.5473 (23.6 % fib).

• Strong support is seen at 1.5143 (50%  fib) and break below could take the pair towards 1.5004 (61.8%  fib).

  Recommendation: Good to buy around 1.5230, with stop loss of 1.5120 and target price of 1.5350