• EUR/AUD strengthened on Monday investors prepared for another large U.S. Federal Reserve rate hike and several other central bank meetings this week.
• European Central Bank chief economist Philip Lane added to the hawkish sentiment by saying it could raise interest rates next year.
• The pair hit daily high at 1.4962 and was last trading at 1.4902.
• From a technical viewpoint, RSI is bullish at 61 daily momentum studies, 5, 10 and 11 are trending up.
• Immediate resistance is located at 1.4977 (23.6%fib), any close above will push the pair towards 1.5011(Higher BB).
• Immediate support is seen at 1.4867(38.2%fib)and break below could take the pair towards 1.4812(9DMA).
Recommendation: Good to buy around 1.4900, with stop loss of 1.4800 and target price of 1.4970
