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FxWirePro: EUR/AUD consolidating around 1.5465,bias is bullish

• EUR/AUD initial dipped on Wednesday  but recovered ground as investors digested minutes from the latest Federal Reserve meeting.

• The minutes of the Sept. 20-21 meeting showed some dovish undertones with some participants noting the importance of calibrating the pace of tightening to mitigate risks to the economy.

• Technical are bullish, daily RSI is negative at 68, daily momentum studies 5,8  and 11 DMAs are trending up. 

• Immediate resistance is located at 1.5485 (23.6 % fib), any close above will push the pair towards 1.5546(Higher BB).

• Immediate support is seen at 1.5412(5DMA) and break below could take the pair towards 1.5381(5DMA).

Recommendation: Good to buy  around 1.5450, with stop loss of 1.5380 and target price of 1.5550.
 

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