FxWirePro: EUR/GBP consolidates above 55-EMA, upbeat German Industrial Production data likely to support further gains
FxWirePro: EUR/AUD gives back much of early gain but bias still bullish
• EUR/AUD declined on Monday as retreat of UST yields helped AUD regain composure vs EUR .
• EUR/AUD hit low at 1.5518 and trades at 1.5536 in US session.
• EUR/AUD charged up to 1.5657 before running into decent selling, buy on dips strategy prevails & techs highlight upside risks.
• Technical signals are bullish as RSI is at 51, daily momentum studies 5 and 9 DMAs are trending down.
• Immediate resistance is located at 1.5611 ( 38.2%fib), any close above will push the pair towards 1.5643 (30DMA).
• Immediate support is seen at 1.5457 (23.6%fib ) and break below could take the pair towards 1.5271 (Lower BB).
Recommendation: Good to buy around 1.5500, with stop loss of 1.5400 and target price of 1.5650.