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• EUR/AUD steadied around 1.6935 for third straight day as the pairs bullish streak continued on Wednesday.
• A close above 1.7000 level, is likely to trigger a new bullish phase with potential for 1.7100.
• From a technical viewpoint, RSI is strongly bullish at 66, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.6959(Daily high), any close above will push the pair towards 1.7019(23.6% fib).
• Immediate support is seen at 1.6881(5DMA) and break below could take the pair towards 1.6784(38.2% fib).
Recommendation: Good to buy on dips around 1.6935, with stop loss of 1.6830, and target price of 1.7020.
