• EUR/AUD strengthened on Friday as weaker Australian dollar offset Sunday's French presidential election event risk.
• Uncertainty has been building ahead of Sunday's first round of the French election as polls show President Emmanuel Macron's lead dwindling over the far-right's Marine Le Pen.
• The pair is currently approaching resistance at 1.4577 ( 38.2%fib). Break above is likely push the pair towards 1.4750 level.
• Technical signals are turning bullish as RSI is curving up, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.4577 ( 38.2%fib), any close above will push the pair towards 1.4792 ( 50%fib)
• Strong support is seen at 1.4524(5 DMA ) and break below could take the pair towards 1.4327(23.6% fib).
Recommendation: Good to buy around 1.4570, with stop loss of 1.4500 and target price of 1.4670.
