• EUR/AUD pair firmed on Thursday as the pair found some support as investors digested mixed Australian jobs data.
• Attention is turning to China as key economic data is set to be released on Friday, including China’s Q4 GDP, along with updates on industrial production, retail sales, and the unemployment rate.
• Investors are eagerly awaiting these figures to gauge China's economic trajectory and potential implications for Australia its largest trading partner.
• The current uptrend is likely to continue as long as the pair does not move below lower bollinger band.
• Immediate resistance is located at 1.6687 (23.6% fib), any close above will push the pair towards 1.6773 (Higher BB).
• Strong support is seen at 1.6558(38.2% fib) and break below could take the pair towards 1.6482(50% fib )
Recommendation: Good to buy around 1.6630 with stop loss of 1.6510 and target price of 1.6700
