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FxWirePro: EUR/ AUD consolidates around 1.5435, maintains bullish bias

• EUR/ AUD strengthened   Monday  as commodity linked currency like Australian weakened against euro  on lower commodity prices , rising recession fears and geopolitical tensions .

• Russia rained cruise missiles on busy Ukrainian cities on Monday   killing civilians and knocking out power and water suppy rising geopolitical tensions.

• The pair currently is approaching resistance at 23.6%fib. A break above   would unmask 1.5500 level in the short term.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 68,while moving averages and MACD are trending higher. 
• Immediate resistance is located at 1.5456(23.6%fib), any close above will push the pair towards 1.5483(Higher BB).

• Immediate support is seen at 1.5350 (38.2%fib) and break below could take the pair towards 1.5329 (5DMA).

Recommendation: Good to buy around 1.5430, with stop loss of 1.5350 and target price of 1.5500

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