• EUR/AUD gapped up on Monday on news Macron led first round French election.
• French leader Emmanuel Macron beat far-right challenger Marine Le Pen in France's first round of presidential voting.
• EUR/AUD recovered back at 1.4607 to fill the gap,heading into the afternoon the EUR/USD is trading around 1.4674
• Technical signals are bullish as RSI is heading up at 56, daily momentum studies 5, 9 and 1 DMAs are trending higher.
• Immediate resistance is located at 1.4730 ( 20DMA), any close above will push the pair towards 1.4768 (38.2%fib)
• Support is seen at 1.4568 (38.2 %fib ) and break below could take the pair towards 1.4339 (23.6%fib).
Recommendation: Good to buy around 1.4650, with stop loss of 1.4500 and target price of 1.4740.
