• EUR/AUD strengthened on Thursday as pick-up in U.S. consumer prices supported the pair .
• The pair bounces from just 1.5843,price is forming a bullish continuation pattern on daily chart.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 54 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.5981 (38.2%fib), any close above will push the pair towards 1.6076(23.6%fib).
• Strong support is seen at 1.5907(50%fib) and break below could take the pair towards 1.5867 (21DMA ).
Recommendation: Good to buy around 1.5950 with stop loss of 1.5880 and target price of 1.6050
