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• EUR/AUD rose higher on Monday as euro benefited against Australian dollar as fresh COVID-19 curbs in China and lower oil prices weighed on risk-sensitive Aussie dollar .
• EUR/AUD gains near 23.6%fib,consolidation likely to continue while market seeks fresh factors.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 57 bullish, daily momentum studies 5, 9 ,11 DMAs are trending up.
• Immediate resistance is located at 1.5561(23.6%fib ), any close above will push the pair towards 1.5619 (Higher BB).
•Strong support is seen at 1.5446 (9 DMA) and break below could take the pair towards 1.5312 (38.2%fib).
Recommendation: Good to on dips around 1.5520, with stop loss of 1.5440 and target price of 1.5600
