• EUR/AUD initially gained on Thursday but gave up ground as investors digested geopolitical development and the budget announcement by the British Finance Minister Jeremy Hunt. .
•EUR/AUD bulls need to overcome 1.5578, in order to keep the bias on gains. 14-day momentum remains positive, reinforcing the bullish market
•Technical are bullish as RSI is at 49, daily momentum studies 5,9,21 DMA are trending up.
• Immediate resistance is located at 1.5578 (23.6%fib ), any close above will push the pair towards 1.5618 (Higher BB).
•Strong support is seen at 1.5455(9DMA) and break below could take the pair towards 1.5394(38.2%fib).
Recommendation: Good to sell around 1.5480 with stop loss of 1.5350 and target price of 1.5560
