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FxWirePro: EUR/AUD getting back on track for a run towards 1.6000

Wednesday, December 1, 2021 11:11 PM UTC

• EUR/AUD recovered ground from initial decline on Wednesday as Omicron concerns moved to the background.

• EUR/USD has stormed back above 1.1336 recovering from 1.5807.It is last trading at 1.5931.

• EUR/AUD technical outlook is solid in short-term as RSI has turned higher, moving averages are trending north.

• Immediate resistance is located at 1.5956( 38.2%fib), any close above will push the pair towards 1.6000 ( Psychological level).

• Immediate support is seen at 1.5903 (Ichimoku Cloud Top) and break below could take the pair towards 1.5863 (38.2%fib).

Recommendation: Good to buy around 1.5900, with stop loss of 1.5800 and target price of 1.6000.

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FxWirePro: EUR/AUD getting back on track for a run towards 1.6000

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