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FxWirePro: EUR/AUD consolidates around 1.6275,bias is bullish

• EUR/AUD steadied on Wednesday as the pairs bullish allure persisted across the board.

• EUR/AUD   gained up to  1.6276 ,consolidation is likely to continue while market seeks fresh factors

• From a technical viewpoint, RSI  is  flat  at 48, daily momentum studies, 5,  and 9 daily  trending up.

•  Immediate resistance is located at 1.6336(23.6%fib), any close above will push the pair towards 1.6406 (21DMA).

• Immediate support is seen at 1.6216(May 16th low) and break below could take the pair towards 1.6146 (38.2%fib).

Recommendation: Good to buy on dips around 1.6275, with stop loss of 1.6150 and target price of 1.6350

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