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• EUR/AUD retreated from daily high on Friday as Indecision gripped as market seeked fresh factors for further direction.
• EUR/AUD traded as high as 1.7608 before retreating slightly to trade at 1.7549
• A rally towards 1.7800 level is possible if EUR/AUD bulls overcome resistance at 50%fib.
• Immediate resistance is located at 1.7711 (50%fib ), any close above will push the pair towards 1.7782(Higher BB).
• Strong support is seen at 1.7384 (61.8% fib) and break below could take the pair towards 1.7292 (Lower BB).
Recommendation: Good to buy on dips around 1.7520, with stop loss of 1.7450 and target price of 1.7680
