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• EUR/AUD strengthened on Monday as the Australian dollar weakened ahead of the RBA’s release of minutes from its November policy meeting.
• The Reserve Bank of Australia will publish the minutes of its November policy meeting on Tuesday, amid growing debate over how restrictive the current monetary stance truly is.
• Investors will also watch Australia’s quarterly wages figures on Wednesday. A projected 0.8% increase, keeping yearly growth at 3.8%, would signal continued labor market strength following last week’s strong jobs data.
•Immediate resistance is located at 1.7860(38.2% fib), any close above will push the pair towards 1.7922(Higher BB).
• Support is seen at 1.7753(SMA 20) and break below could take the pair towards 1.75560 (50%fib).
Recommendation: Good to buy around 1.7820, with stop loss of 1.7720 and target price of 1.7900
