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FxWirePro: EUR/AUD bulls need more gains to zero in on key fibo resistance

• EUR/AUD initially gained on Wednesday but gave up ground as   markets await a likely rate hike by the Federal Reserve. 

• Recent recovery attempt has been short- lived  as Investors kept their focus on Fed rate announcement, plus policy statement and projections, at 1800 GMT.

• Technicals  highlight upside risks, the 5- and 9-day moving averages lend support, daily RSI is rising . 

•  Immediate resistance is located at 1.5287 ( 38.2% fib), any close above will push the pair towards 1.5342 (March 15th high)

• Support is seen at 1.5143 (50%fib ) and break below could take the pair towards 1.5088 (5DMA).

Recommendation: Good to buy  around 1.5160, with stop loss of 1.5050 and target price of 1.5220.
 

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