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FxWirePro: EUR/AUD sustains gains as uptrend remains strong


• 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
 

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