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FxWirePro: EUR/AUD regains upwards momentum but unable to hold above 50%fib level

• EUR/AUD advanced on Wednesday  as investors  digested the Federal Reserve held interest rate decision.

• The Federal Reserve's decision to keep its benchmark interest rate unchanged at 3.50%-3.75% was widely expected. However, three of the 12 FOMC members dissented, voting in favor of a 25-basis-point rate hike,

• Risk sentiment also deteriorated, with declines in stocks, gold, and silver, while comments from President Trump added to market caution, keeping EUR/AUD anchored near 1.5495.

•  Immediate resistance is located at 1.6498(38.2%fib), any close above will push the pair towards 1.6505(50%fib)

• Support is seen at 1.6383(SMA20)and break below could take the pair towards 1.6302 (Lower BB)

Recommendation: Good to sell around 1.6500 , with stop loss of 1.6640 and target price of 1.6410
 

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