• EUR/AUD steadied on Thursday as investors continued to shrug off concerns about interest rates and indulging in some buying.
• EUR/AUD traded last at 1.5514, the pair traded in range 1.5449-1.5572 on Thursday. Close above targets return to 105 January highs.
• Technical signals show the pair could gain more ground in the short-term as RSI is at 52 bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.5518 (38.2%fib), any close above will push the pair towards 1.559` (23.6%fib).
• Strong support is seen at 1.5469 (11DMA) and break below could take the pair towards 1.5458 (50%fib).
Recommendation: Good to buy around 1.5500 with stop loss of 1.5450 and target price of 1.5580
