• EUR/AUD initially dipped but recovered some ground after Powell’s Jackson hole speech
• In an up-and-down session, the pair hit low at 1.6773in early trading then gained towards 1.6853 after the Federal Reserve Chair Powell's speech at the Jackson Hole Symposium .
• A daily close above 5DMA will further improve the technical outlook, and open the possibility of a rally towards 1.6950 level.
• Technicals highlight upside risks. The 14- and 21-day moving averages lend support, daily RSI is bullish at 57.
• Immediate resistance is located at 1.6886 ( 5DMA), any close above will push the pair towards 1.6956 (23.6%fib)
• Support is seen at 1.6768 (38.2% fib ) and break below could take the pair towards 1.6683(21DMA).
Recommendation: Good to buy around 1.6850, with stop loss of 1.6740 and target price of 1.6940
