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• EUR/AUD initially gained on Wednesday but lost some ground as markets were on the defensive as caution set in ahead of the U.S. Federal Reserve's latest policy decision.
• The pair’s recovery stalled after finding resistance at 1.5633(38.2%fib). Fed meeting might not drive much gains in this pair.
• Technical signals are mixed as RSI is bullish at 53, daily momentum studies 5, 9 and 10 DMAs are trending flat.
• Immediate resistance is located at 1.5632 ( 38.2%fib), any close above will push the pair towards 1.5667 (100DMA)
• Support is seen at 1.5460(23.6% fib) and break below could take the pair towards 1.5405(Lower BB).
Recommendation: Be on sidelines
