• EUR/AUD gained upward traction on Wednesday as investors remained bullish on the cross currency pair’s near-term prospects.
• EUR/AUD is looking to accelerate further as pair has regained above1.5787 ( 38.2%fib), prompting a pick-up in upside demand.
• EUR/AUD short-term technical chart structure remains positive, which will further push the pair upwards.
• Immediate resistance is located at 1.7700 ( 50%fib), any close above will push the pair towards 1.7739 (Higher BB).
• Support is seen at 1.7493 (61.8%fib) and break below could take the pair towards 1.7399(Lower BB).
Recommendation: Good to buy around 1.7600, with stop loss of 1.7530 and target price of 1.7680
