FxWirePro: AUD/USD holds marginal gains on improved risk sentiment, focus on US Durable Goods data for further impetus
FxWirePro: USD/JPY consolidates cloud breakout, Fed's hawkish shift and improving risk appetite likely to support upside
FxWirePro: EUR/AUD neutral in the near-term, scope for downward resumption
• EUR/AUD recovered some ground from initial decline on Friday as rallies in equities , oil helped buoy euro.
• EUR/AUD recovers towards 1.5980 and holds near the day's high in US session.
• Bulls will need a clear 1.6048( 38.2% fib)to take greater control, failure to break higher will spur fresh downward momentum.
• Technical signals are mixed as RSI is trending up, moving averages are trending up.
• Immediate resistance is located at 1.5982 (50% fib), any close above will push the pair towards 1.6011 ( 5DMA).
• Immediate support is seen at 1.5911 (61.8%fib) and break below could take the pair towards 1.5870 (16th July low).
Recommendation: Good to sell around 1.6000, with stop loss of 1.6100 and target price of 1.5920.