FxWirePro: EUR/AUD maintains bullish bias with focus on 1.8000

• EUR/AUD edged higher on Wednesday as   upbeat Eurozone retail sales data supported euro across the board.

• Euro zone retail sales rose more than expected in June, data showed Wednesday, reinforcing the view that strong domestic consumption is helping the bloc remain resilient amid ongoing trade uncertainty.

• Retail sales in the 20 nations sharing the euro currency expanded by 3.1% in June from a year earlier, well above the 2.6% seen by economists.

• Meanwhile ,Germany reported that Factory Orders fell by 1% on a monthly basis in June, much worse than the 1% advance anticipated. 

• Meanwhile, the European Union has signaled expectations of further turbulence in its trade relationship with the United States, adding to broader uncertainty that continues to cap upside momentum for the euro.
     
•Immediate resistance is located at 1.8007 (Higher BB), any close above will push the pair towards 1.8073(38.2%fib)

• Strong support is seen at 1.7848(SMA 20) and break below could take the pair towards 1.7703(50%fib).

Recommendation: Good to buy  around 1.7900, with stop loss of 1.7830 and target price of 1.8000