• EUR/AUD initially dipped on Tuesday but recovered some ground as markets awaited ECB’s latest policy decision.
• Markets looked ahead to Thursday's European Central Bank (ECB) policy meeting for directional cues.
• Technical signals are bullish as RSI is at 53, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.5657 ( 23.6%fib), any close above will push the pair towards 1.5786 (Higher BB)
• Support is seen at 1.5570(5DMA) and break below could take the pair towards 1.5434 (38.2%fib).
Recommendation: Good to buy around 1.5590, with stop loss of 1.5500 and target price of 1.5670
