FxWirePro:EUR/AUD loses momentum but outlook is bullish

• EUR/AUD shed earlier gains on Friday as mixed German economic data capped upside.

• EUR/AUD fell as low as 1.5610 after reaching daily high at 1.5662 .EUR/AUD last stood at 1.5615 in late US session.

• Technical signals are bullish as RSI is at 60, daily momentum studies  10,11 and 14 DMAs are trending up. 

• Immediate resistance is located at 1.5680 ( 50%fib), any close above will push the pair towards 1.5732 (Ichimoku Cloud Top).

• Support is seen at 1.5544(38.2% fib ) and break below could take the pair towards 1.5497 (9DMA).

Recommendation: Good to buy around  1.5600, with stop loss of 1.5500 and target price of 1.5690