• EUR/AUD strengthened on Wednesday as softer than expected Australian inflation data weighed on Australian dollar.
• Below-forecast CPI is blow for hawks advocating RBA rate rise next week.
• EUR/AUD bulls are likely to mount a credible run towards 1.6850 level.
• From a technical viewpoint, RSI is strongly bullish at 71, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.6793(23.6%fib), any close above will push the pair towards 1.6820 (19th Oct 2020 High).
• Immediate support is seen at 1.6560 (38.2%fib) and break below could take the pair towards 1.6500 (5DMA).
Recommendation: Good to buy on dips around 1.6680, with stop loss of 1.6580 and target price of 1.6830


FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD extends decline on broad dollar weakness
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/USD biased higher but rally currently stretched
FxWirePro:NZD/USD uptrend loses momentum but bullish setup remains
FxWirePro- Major Crypto levels and bias summary
NZDJPY Bulls Charge Toward 95.00: Safe-Haven Exodus Drives Kiwi Rally
FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: GBP/NZD up trend gains some momentum but hurdles ahead
FxWirePro: GBP/NZD down trend loses steam, remains on bearish path
FxWirePro: USD/CAD recovers slightly but bearish outlook persists
FxWirePro: AUD/USD retreats slightly but trend is still bullish
Energy Surge Ignites US Inflation: USDCHF Eyes Support Amid Dollar Sell-Off
FxWirePro: EUR/AUD downtrend loses steam but outlook still bearish
Bitcoin’s Volatile Reset: ETFs Rebound as Bulls Eye USD 80,000 Milestone 



