• EUR/AUD retreated on Monday as currency pair’s early gains evaporated markets lost momentum ahead of a key U.S. inflation report this week.
• Investors will also watch out for figures on euro zone January industrial production due later in the week.
• EUR/NZD traded in 1.6571-1.6494 range .it was last trading at 1.6513.
• EUR/AUD remains bullish , only a close back below 50%fib , could upset the bullish order.
• Immediate resistance is located at 1.6571(38.2%fib), any close above will push the pair towards 1.6603(March 7th high).
• Strong support is seen at 1.6483(38.2% fib) and break below could take the pair towards 1.6421 (Lower BB).
Recommendation: Good to buy around 1.6500, with stop loss of 1.6400 and target price of 1.6580
