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• EUR/AUD rebounded sharply on Thursday as traders' focus shifted to Friday’s payrolls data from post-Fed drubbing.
• This week's major U.S. economic release will be the government's jobs report for April released on Friday.
• Technical signals are bullish as RSI is at 51, daily momentum studies 11, 14 and 21 DMAs are trending up.
• Immediate resistance is located at 1.4971 (38.2%fib), any close above will push the pair towards 1.5067 (Higher BB).
• Support is seen at 1.4790(50%fib ) and break below could take the pair towards 1.4731 (21DMA).
Recommendation: Good to buy around 1.4800, with stop loss of 1.4610 and target price of 1.4920.
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FxWirePro: EUR/AUD rises from 1.4610, bulls take aim at 38.2%fib resistance
Thursday, May 5, 2022 11:20 PM UTC
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