• EUR/AUD eased slightly on Tuesday as indecision persisted ahead Australia Q2 CPI data , BOJ and Fed rate decisions Wednesday.
• If Australia's CPI rises by 4% annually, it would boost expectations for the Reserve Bank of Australia (RBA) to implement a rate hike in August.
• EUR/AUD has seen a 1.6494 -1.6560 range on Tuesday, 23.6%fib resistance remains a stumbling block. Break above would entice bulls.
• Immediate resistance is located at 1.6602(23.6%fib), any close above will push the pair towards 1.6690(April 19th high).
• Strong support is seen at 1.6490(38.2% fib) and break below could take the pair towards 1.6412 (SMA 9 ).
Recommendation: Good to buy around 1.6520, with stop loss of 1.6400 and target price of 1.6590
