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FxWirePro: EUR/AUD consolidating around 1.4660, room for further gains

• EUR/AUD rally extended towards 1.4660 on Monday  as absence of market clues from Europe due to Easter holidays and weaker  Australian dollar  supported the pair.

• EUR/AUD bulls   confidence is running high, a test of the  1.4771 (38.2%fib) highly seems likely.

• From a technical viewpoint, RSI  is pointing higher, daily momentum studies, 5, 10 and 11 trending north.

• Immediate resistance is located at 1.4659 (50%fib), any close above will push the pair towards 1.4771 (38.2%fib).

• Immediate support is seen at 1.4603 (5DMA) and break below could take the pair towards 1.4578 (61.8%fib).

Recommendation: Good to buy on dips around 1.4650, with stop loss of 1.4500 and target price of 1.4750.
 

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