• EUR/ AUD strengthened on Monday as euro was boosted by growing expectations for European Central Bank (ECB) rate hikes.
• EUR/ AUD initially dipped but found buyers at 1.4452. A break and daily close above 50% fib will accelerate further gains.
• Technical signals show the pair could gain more ground in the short-term as RSI is turning bullish, daily momentum studies 5, 9 and 11 DMAs are trending up.
• Immediate resistance is located at 1.4540 (50% fib), any close above will push the pair towards 1.4569 (30DMA).
• Strong support is seen at 1.4471 (14DMA) and break below could take the pair towards 1.4442(61.8% fib )
Recommendation: Good to buy around 1.4490, with stop loss of 1.4490 and target price of 1.4580
