• EUR/AUD after initially gaining on Wednesday as the pair gave up some ground as market digested US CPI data.
• In an up-and-down session, the pair hit high at 1.6573 in early trading then eased towards 1.6461.
• Technical signals show the pair could gain more ground in the short-term as RSI is bullsih, daily momentum studies 14 and 21 SMAs are trending up.
• Immediate resistance is located at 1.6571 (23.6%fib), any close above will push the pair towards 1.6609 (Higher BB).
• Strong support is seen at 1.6464 (38.2%fib) and break below could take the pair towards 1.6375 (50%fib).
Recommendation: Good to buy around 1.6450 with stop loss of 1.6370 and target price of 1.6550
