• FxWirePro: EUR/AUD rallies to 2-week high, good to buy on dips

    Источник: FxWire Pro - Technicals / 14 июл 2020 15:29:01   America/New_York

    • EUR/AUD peaked higher on Tuesday as euro attracted buyers ahead  EU Summit and ECB meeting .

    • Pair climbs above 1.6300 and holds near the day's high late in US session.

    • EUR/AUD outlook remains bullish. Only a break and close below  1.6277 (23.6% fib), will shift the bias lower.

    • Technicals are favouring bullish sentiment  as RSI is at 51 and the pair is trading above 5 & 9-DMAs.

    • On the upside, Immediate resistance is located at 1.6400 (Higher BB), any close above will push the pair towards 1.6456 (38.2 % fib).

    •    On the downside, support is seen at 1.6277 (23.6% fib) and break below could take the pair towards 1.6262 (11 DMA).

    Recommendation: Good to buy around 1.6310, with stop loss of 1.6250 and target price of 1.6450
     

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