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FxWirePro : EUR/AUD attracts buying interest, 38.2% fibonacci eyed

• EUR/AUD  rose higher on Wednesday on as broad based Australian  dollar selling drove EUR/AUD  sharply higher.

•The pair reaches 1.5579 after extending north from 1.7953 (early Asia low). 1.8262 is the highest level since April 8th.

• Technical signals show the pair could gain more ground in the short-term as RSI is pointing higher, daily momentum studies  5, 10 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.5600 (38.2% fib), any close above will push the pair towards 1.5702 (50% fib).

• Strong support is seen at 1.5454 (23.6% fib) and break below could take the pair towards 1.5367(Lower BB )

Recommendation: Good to buy around 1.5570, with stop loss of 1.5500  and target price of 1.5650

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