• 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.
