• EUR/AUD initially dipped on Thursday but rebounded sharply as investors cheered Fed signalling smaller interest rate hikes
• Investors also looked past data that showed German retail sales fell more-than-expected in October.
• Technical signals are bullish as RSI is at 51, momentum studies, 5, 10 & 21 DMAs are trending up.
• Immediate resistance is located at 1.5439 ( 38.2%fib), any close above will push the pair towards 1.5489 (23.6%fib)
• Strong support is seen at 1.5403 (38.2 %fib ) and break below could take the pair towards 1.5338 (5DMA).
Recommendation: Good to buy on dips around 1.5430 with stop loss of 1.5350 and target price of 1.5500
