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FxWirePro: EUR/AUD consolidating around 1.6170 room for further gains

• EUR/AUD rally extended towards 1.6200 as Thursday's hawkish shift from the European Central Bank continued boosted euro.

• EUR/AUD saw the biggest daily rise since December 2020 on Friday, the pair rose a whopping 222 pips.

• From a technical viewpoint, RSI  is strongly bullish at 69, daily momentum studies, 5, 10 and 21 daily  MAs all climb.

• Immediate resistance is located at 1.6271 (23.6%fib), any close above will push the pair towards 1.6237(22nd Sep high).

• Immediate support is seen at 1.6145 (38.2% fib) and break below could take the pair towards 1.6085(50%fib).

Recommendation: Good to buy on dips around 1.6145 , with stop loss of 1.6000 and target price of 1.6240

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