• EUR/AUD firmed on Wednesday as the pair was lifted by expectations the Federal Reserve will adopt a less aggressive policy stance later in the day.
• The Fed’s decision is scheduled at 1900 GMT, followed by a press conference from Fed Chair Jerome Powell.
• Pair rallied up to 1.5580 before pulling back slightly in US session.
• Technical signals are slightly bearish as RSI is at 49, momentum studies 5, 9 and 11 DMA’s are trending down.
• Immediate resistance is located at 1.5577( 5DMA), any close above will push the pair towards 1.5632 (38.2% fib).
• Support is seen at 1.5462 (50% fib ) and break below could take the pair towards 1.5373 (29th Nov low).
Recommendation: Be on sidelines
