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FxWirePro:EUR/ AUD losses momentum but bullish setup remains

• EUR/ AUD  initially gained on Monday but gains  fizzled as holidays in much of Europe and US dampened activity.

• The pair fell to hit daily low at 1.6376 after hitting daily high at 1.6457.

•Technical signals show the pair could gain more ground in the short-term as RSI is at 53 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up. 

• Immediate resistance is located at 1.6463 ( 23.6% fib), any close above will push the pair towards 1.6538 (Higher BB).

• Immediate support is seen at 1.6364  (9DMA) and break below could take the pair towards 1.6263(38.2% fib).

Recommendation: Good to buy around 1.6350 ,with stop loss of 1.6200   and target price of 1.6450  
 

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