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• EUR/AUD edged higher on Friday as investors digested Eurozone GDP data and awaited fresh catalyst .
• The euro area economy expanded by 0.3% in the fourth quarter, in line with preliminary estimates, according to data released by Eurostat on Friday.
The growth followed a 0.3% quarter-on-quarter expansion recorded in the previous quarter.
• Across the European Union, gross domestic product (GDP) also expanded 0.3% during the same period.
• Immediate resistance is located at 1.6748(38.2%fib), any close above will push the pair towards 1.6981 (SMA 20)
• Support is seen at 16648 (23.6% fib ) and break below could take the pair towards 1.65670(Lower BB).
Recommendation: Good to sell around 1.6800 with stop loss of 1.6900 and target price of 1.6580
