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FxWirePro: EUR/AUD getting back on track for run towards 1.6950 level

• EUR/AUD  initially dipped but recovered some ground after Powell’s Jackson hole speech  

• In an up-and-down session, the pair hit low at 1.6773in early trading then gained towards 1.6853 after the  Federal Reserve Chair  Powell's speech at the Jackson Hole Symposium  .

• A daily close above 5DMA will further improve the technical outlook, and open the possibility of a rally towards 1.6950 level.

• Technicals   highlight upside risks. The 14- and 21-day moving averages lend support, daily RSI is bullish at 57. 

• Immediate resistance is located at 1.6886 ( 5DMA), any close above will push the pair towards 1.6956 (23.6%fib)

• Support is seen at 1.6768 (38.2% fib ) and break below could take the pair towards 1.6683(21DMA).

  Recommendation: Good to buy around 1.6850, with stop loss of 1.6740 and target price of 1.6940
 

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