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FxWirePro: EUR/AUD consolidates above 1.6300, maintains bullish bias


• EUR/AUD strengthened on Friday  as broad Australian dollar weakness helped the  gain above  1.6300.

•  Lower equity , copper and  oil prices weighed on commodity linked Australian dollar  
• EUR/AUD approached to test resistance 23.6%fib  but   retreated as   the pair lost strength.    

• Technical signals are bullish as RSI is at 60, daily momentum studies  5,9,21 DMA are trending north. 

• Immediate resistance is located at 1.6343 (23.6%fib), any close above will push the pair towards 1.6426  (April 21st high).

• Strong support is seen at 1.6233(38.2%fib) and break below could take the pair towards  1.6185 (Daily low).

Recommendation: Good to buy on dips around 1.6290 with stop loss of 1.6200 and target price of 1.6360

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