• EUR/AUD strengthened on Thursday as investors digested German, Eurozone PMI data .
• S&P Global's HCOB Eurozone Manufacturing PMI inched up to 44.4 in December from 44.2 in November, though it continues to signal worsening conditions, persisting below the neutral 50.0 threshold..
• The HCOB German Flash Composite Purchasing Managers' Index (PMI), compiled by S&P Global, fell to 46.1 in February from 47.0 the month before.
• From a technical viewpoint, the moving averages are pointing upwards, while the RSI trending up at 52 .
• Immediate resistance is located at 1.6544(38.2%fib), any close above will push the pair towards 1.6602(Higher BB)
• Strong support is seen at 1.6459(50 %fib ) and break below could take the pair towards 1.6405(Lower BB).
Recommendation: Good to buy around 1.6510, with stop loss of 1.6600 and target price of 1.6580
