• EUR /AUD strengthened on Friday as ECB members talking up return to positive rates this year boosted euro.
• Euro was lifted by comments made by French central bank chief Francois Villeroy de Galhau, who said the ECB should raise its deposit rate back into positive territory this year.
• The pair hit daily high at 1.4962 and was last trading at 1.4896 in late US session.
• Technical signals are bullish as RSI is at 53, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.4995 (38.2%fib), any close above will push the pair towards 1.5069(Higher BB).
• Immediate support is seen at 1.4834 (50%fib) and break below could take the pair towards 1.4679 (61.8% fib).
Recommendation: Good to buy on dips around 1.4880, with stop loss of 1.4700 and target price of 1.5000.
