• 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
