• EUR/AUD eased towards 1.6888 on Wednesday as Australian dollar was booted by aided iron ore gains.
• Australian dollar was s also supported by China's moves to stabilise the yuan.
• At GMT 15:34, the pair was trading down 0.58 percent 1.6883 ,Lowest since 16th Aug .
•From a technical viewpoint, RSI is strongly bullish at 61, daily momentum studies, 5, 10 and 21 daily MAs all climb.
•Immediate resistance is located at 1.6727(Daily high), any close above will push the pair towards 1.6615(38.2% fib).
•Immediate support is seen at 1.6843 (14DMA) and break below could take the pair towards 1.6822(38.2%fib).
Recommendation: Good to buy on dips around 1.6860, with stop loss of 1.6700 and target price of 1.6950
