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Crude oil Daily Outlook 
• EUR/AUD rose on Thursday as risk aversion and lower commodity prices undermined Australian dollar against euro.
• The is pair heading towards the 1.5900 level, as near term direction of the pair is likely to be driven by current price action.
• From a technical viewpoint, RSI is strongly bullish at 56, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.5873 (23.6%fib), any close above will push the pair towards 1.5924(Higher BB).
• Immediate support is seen at 1.5823 (5DMA) and break below could take the pair towards 1.5740 (38.2%fib).
Recommendation: Good to buy on dips around 1.5820, with stop loss of 1.5740 and target price of 1.5930.
