• EUR/AUD rally extended towards 1.6200 as Thursday's hawkish shift from the European Central Bank continued boosted euro.
• EUR/AUD saw the biggest daily rise since December 2020 on Friday, the pair rose a whopping 222 pips.
• From a technical viewpoint, RSI is strongly bullish at 69, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.6271 (23.6%fib), any close above will push the pair towards 1.6237(22nd Sep high).
• Immediate support is seen at 1.6145 (38.2% fib) and break below could take the pair towards 1.6085(50%fib).
Recommendation: Good to buy on dips around 1.6145 , with stop loss of 1.6000 and target price of 1.6240
