• EUR/AUD rose higher on Tuesday as rally was triggered by better expected German import/export data .
• German exports increased by 4.0% on the previous month, while imports grew by 4.6% compared with January.
• EUR/AUD bulls confidence is running high, a rise towards 1.6350 level is likely.
• From a technical viewpoint, RSI is strongly bullish at 61, daily momentum studies, 5, 10 and 21 daily MAs all climb.
• Immediate resistance is located at 1.6268 (Daily high), any close above will push the pair towards 1.6315 (Higher BB).
• Immediate support is seen at 1.6194 (38.2%fib) and break below could take the pair towards 1.6110 (20DMA).
Recommendation: Good to buy on dips around 1.6240, with stop loss of 1.6140 and target price of 1.6350
