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FxWirePro: EUR/AUD consolidating around 1.6800,bullish setup remains

• EUR/AUD   steadied around 1.6800 level on Wednesday as traders positioned ahead of  key U.S. inflation on Thursday.

• Investor  await U.S. inflation numbers on Thursday for clarity on whether more rate hikes are on the table.

• Pair traded in 1.6833/1.6712 range and was last trading at 1.6804 into the US afternoon.

• Technical signals show the pair could gain more ground in the short-term as RSI is at 60 bullish, daily momentum studies  5, 9 and 11 DMAs are trending  up.

• Immediate resistance is located at 1.6833(23.6%fib), any close above will push the pair towards 1.6903(Higher BB).

• Strong support is seen at 1.6748(5DMA) and break below could take the pair towards 1.6671 (38.2%fib )

Recommendation: Good to buy around 1.6780 with stop loss of 1.6630 and target price of 1.6870

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