FxWirePro:EUR/AUD consolidating around 1.6210,bias is bullish

• EUR/AUD steadied  on Thursday  after the Bank of England followed the U.S. Federal Reserve and the Swiss National Bank in hiking rates amid worries of a banking contagion.

• Pair traded in a quiet 1.1677/1.6256  range and was last trading at 1.6210 in late the US afternoon. 

• Technical signals are bullish as RSI is at 67, daily momentum studies  10,11 and 14 DMAs are trending up..

• Immediate resistance is located at 1.6279( 23.6%fib), any close above will push the pair towards 1.6312 (Higher BB).

• On the downside, support is seen at 1.6152(5DMA ) and break below could take the pair towards 1.6121(38.2%fib).

Recommendation: Good to buy  around 1.6200, with stop loss of 1.6120 and target price of 1.6280.