FxWirePro: EUR/AUD reclaims 1.5700 handle after FOMC event

• EUR/AUD recovered from earlier decline on Wednesday as the pair attracted buyers after FOMC event .

• EUR/AUD reaches 1.5802 after pushing recovery envelope from 1.5716.EUR/AUD buying pushed the cross pair up 0.03% post FOMC.

• The pullback from the   1.5716 daily low has passed through the 38.2% fibonacci retrace point at 1.5755 and now eyes the 23.6% fib at 1.5830.

• Technical signals are bullish as RSI is at 56, daily momentum studies  5 ,9 DMA’s are trending higher. 

• Immediate resistance is located at 1.5762 ( Higher BB), any close above will push the pair towards 1.5830 ( Higher BB).

• Immediate support is seen at 1.5755(38.2% fib) and break below could take the pair towards 1.5693 (50%fib).

 Recommendation: Good to buy around 1.5760 with stop loss of 1.5680 and target price of 1.5830.