FxWirePro: EUR/AUD bullish outlook with scope to target 1.6700

• EUR/AUD firmed    on Monday  as Investors  digested Christine Lagarde comments at ECB's annual Sintra conference.

• ECB President Christine Lagarde said the euro zone economy has become more resilient, giving the central bank greater scope to raise interest rates without triggering financial stress.

• Lagarde said this resilience will be crucial as the euro zone faces more frequent inflation shocks, forcing policymakers to balance overlooking price swings with taking decisive action..

• The ECB became the first major central bank this month to raise interest rates in response to the Iran war-driven energy shock, with policymakers now debating whether further tightening is needed.

• The spotlight this week is on Thursday's U.S. June jobs report, with any signs of labour market cooling likely to influence the Fed's policy outlook.
 
•   Immediate resistance is located at 1.6638(Higher BB), any close above will push the pair towards 1.6727(61.8%fib)

• Support is seen at 1.6530(50%fib) and break below could take the pair towards 1.6410(SMA 20).

Recommendation: Good to buy around 1.6570, with stop loss of 1.6500 and target price of 1.6700