• EUR/AUD initially dipped on Wednesday but recovered some ground as investors picked U.S. inflation data for clues about the Federal Reserve's rate hiking path.
• EUR/AUD fall from intra-day high towards 1.5184 , however daily bullish hammer candle forms which is a sign bulls are in control.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 62 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
•Immediate resistance is located at 1.5192 (Daily high), any close above will push the pair towards 1.5268(23.6%fib).
•Immediate support is seen at 1.5120 (5DMA)and break below could take the pair towards 1.5064 (38.2%fib).
Recommendation: Good to buy on dips around 1.5160, with stop loss of 1.5050 and target price of 1.5260
