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FxWirePro: EUR/AUD uptrend resumes rise toward key fibo ,good to buy on dips

• EUR/AUD  strengthened on Wednesday as the pair saw increased buying interest following the Fed's rate decision.

• The Federal Reserve made a widely anticipated interest rate cut and signaled that it would slow the pace of its monetary policy easing moving forward.

• The Fed lowered its benchmark policy rate by 25 basis points to the 4.25% to 4.50% range

• EUR/AUD  has picked up  some upside momentum and is approaching 23.6% fib. A close above break above  will opens up 1.6700level.

• Immediate resistance is located at 1.6653(23.6% fib ), any close above will push the pair towards 1.6678 (Higher BB).

• Immediate support is seen at 1.6537 (38.2% fib) and break below could take the pair towards 1.6491 (Dec 17th low).

Recommendation: Good to buy round 1.6600, with stop loss of 1.6520 and target price of 1.6700

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