• EUR/AUD gained on Thursday as euro attracted buyers following France's no-confidence vote.
• French lawmakers passed a no-confidence vote against the government on Wednesday evening, throwing the country deeper into a crisis that threatens its ability to tame a massive budget deficit.
• Investors are looking past the anticipated fall of Michel Barnier's government, which lasted just three months, after it lost a no-confidence motion put forward by a coalition of the Far Right and Left-wing parties
• Rally towards is 1.6500 possible if EUR/AUD bulls overcome resistance at 38.2%fib.
• Immediate resistance is located at 1.6426(38.2%fib), any close above will push the pair towards 1.6516(23.6%fib).
• Strong support is seen at 1.6347(50%fib) and break below could take the pair towards 1.6270(61.8%fib).
Recommendation: Good to buy around 1.6390 with stop loss of 1.6300 and target price of 1.6500
