• EUR/AUD edged higher on Monday after the Federal Reserve kept interest rates unchanged.
• The U.S. central bank held interest rates steady on Wednesday and projected higher inflation, steady unemployment and a single reduction in borrowing costs this year
• The Labor Department said its Producer Price Index for final demand surged 0.7% last month, the most since last July, and well above the 0.3% rise forecast by economists .
• Other data from the Commerce Department showed factory orders rose 0.1%, which matched expectations, after an upwardly revised 0.4% drop in December..
• Strong resistance is located at 1.6357(March 13th high), any close above will push the pair towards 1.6452 (SMA 20)
• Immediate support is seen at 1.6146 (23.6% fib) and break below could take the pair towards 1.6050 (Lower BB).
Recommendation: Good to sell around 1.6300, with stop loss of 1.6380 and target price of 1.6250
