• EUR/AUD strengthened on Friday as upside surprise for September US jobs sent the pair higher.
• The U.S. Labor Department reported that nonfarm payrolls increased by 263,000 in September ,slightly above expectations .
• EUR/AUD bulls confidence is running high, a test of the 1.5384(23.6%fib) highly seem s likely.
• From a technical viewpoint, RSI is strongly bullish at 65, daily momentum studies, 5, 10 and 11 daily MAs are pointing higher.
• Immediate resistance is located at 1.5305(Daily high), any close above will push the pair towards 1.5391(23.6%fib).
• Immediate support is seen at 1.5255(38.2%fib) and break below could take the pair towards 1.5174(5DMA).
Recommendation: Good to buy on dips around 1.5270, with stop loss of 1.5150 and target price of 1.5400.
