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FxWirePro: EUR/AUD maintains bullish bias with focus on 1.5700

• EUR/AUD strengthened on Thursday as euro was  buoyed by global economic data on the labour market and the services sector.

• EUR/AUD gains near 38.2%fib,consolidation likely to continue while market seeks fresh factors.

• From a technical viewpoint, RSI  is strongly bullish at 59, daily momentum studies, 5, 10 and 11 daily  MAs all climb.

• Immediate resistance is located at 1.5623 (38.2%fib), any close above will push the pair towards 1.5700 (Psychological level).

• Immediate support is seen at 1.5530(Ichimoku cloud base)and break below could take the pair towards 1.5491(9EMA).

Recommendation: Good to buy on dips around 1.5590, with stop loss of 1.5500 and target price of 1.5670.

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