• EUR/AUD initially gained on Wednesday but some of early gains evaporated as talk of a European third wave and extensions of pandemic lockdowns in Germany and France kept gains in check.
• EUR/AUD pulled back from 1.5615, but losses were limited by demand near the 61.8%fib retracement.
• EUR/AUD remains bullish , only a close back below 61.8%fib at 1.5482 , could upset the bullish order.
• Immediate resistance is located at 1.5615 (50%fib ), any close above will push the pair towards 1.5694 (Feb 26th high).
• Strong support is seen at 1.5505 (Daily low) and break below could take the pair towards 1.5482 (61.8%fib).
Recommendation: Good to buy around 1.5550, with stop loss of 1.5470and target price of 1.5620
