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FxWirePro: EUR/AUD positions for another climb, eyes 1.6850 level

• EUR/AUD steadied  on Monday  as   investors awaited data this week for clarity on the economic outlook.

• Their focus now lies on key inflation data, including that of the U.S. and the euro zone, through the week.

• A rally towards 1.6900  is   possible if  EUR/NZD bulls overcome resistance at 1.6848( 23.6%fib).

• Technical signals are turning bullish as RSI is turning higher at 59, daily momentum studies  5, 9 and 10 DMAs are trending up.

•   Immediate resistance is located at 1.6848( 23.6%fib), any close above will push the pair towards 1.6888 ( Sep 5th high)

•  Strong support is seen at 1.6765(5 DMA ) and break below could take the pair towards 1.6721 (38.2%  fib).

  Recommendation: Good to buy around 1.6770 with stop loss of 1.6700  and target price of 1.6850

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