FxWirePro: EUR/AUD bulls gear up for next leg higher, eyes 1.6750 level

• EUR/AUD pair firmed on Friday, as the pair found some support after the release of robust U.S. jobs data that exceeded expectations.

•A Labor Department report showed the U.S. economy added 256,000 jobs in December, much higher than economists' forecasts for an increase of 160,000.

• Solid economic data bolstered the U.S. dollar, indirectly influencing the EUR/AUD pair by adding downward pressure on the Australian dollar.

• The current uptrend is likely to continue as long as the pair does not move below 38.2% fib support.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 58 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.6697 (23.6% fib), any close above will push the pair towards 1.6801 (Higher BB).

• Strong support is seen at 1.6562(38.2% fib) and break below could take the pair towards 1.6565(50% fib )

Recommendation: Good to buy around 1.6660 with stop loss of 1.6550 and target price of 1.6750