• EUR/AUD strengthened on Friday as investors digested a stronger than expected US jobs report
• The U.S. Labor Department reported that nonfarm payrolls increased by 263,000 jobs last month compared with economist expectations for 200,000 jobs.
• EUR/AUD gains near 23.6%fib,consolidation is likely to continue while market seeks fresh factors.
• Technical signals are bullish as RSI is at 54, momentum studies, 5, 10 & 21 DMAs are trending up.
• Immediate resistance is located at 1.5536( 23.6%fib), any close above will push the pair towards 1.5600 (Higher BB)
• Strong support is seen at 1.5441(9DMA ) and break below could take the pair towards 1.5343 (38.2%fib).
Recommendation: Good to buy on dips around 1.5490 with stop loss of 1.500 and target price of 1.5580
