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FxWirePro: EUR/AUD loses momentum but bullish setup remains

• EUR/AUD eased slightly on Tuesday as   investors favored riskier currencies like Australian dollar amid reduced geopolitical fears.

•With risk appetite recovering, traders favored the AUD, contributing to a mild pullback in the EUR/AUD pair.

•Attention now turns to Australia’s May CPI data, which could further influence expectations around Reserve Bank of Australia policy and add direction to the pair.

• Technical signals are bullish  as RSI is at 62, daily momentum studies  5,9 and 10 DMAs are trending up.

•  Immediate resistance is located at 1.7965( 38.2%fib), any close above will push the pair towards 1.8000(Psychological level)

• Strong  support is seen at 1.7810 (50% fib ) and break below could take the pair towards 1.7690  (20 SMA).

Recommendation: Good to buy  around 1.7850, with stop loss of 1.7750  and target price of 1.7960

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