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FxWirePro: EUR/AUD steadies above 1.4450, retains bid tone

• EUR/ AUD strengthened on Monday as euro was boosted by growing expectations for European Central Bank (ECB) rate hikes.

• EUR/ AUD  initially dipped but found buyers at 1.4452. A break and daily close above 50% fib will accelerate further gains.

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

• Immediate resistance is located at 1.4540 (50% fib), any close above will push the pair towards 1.4569 (30DMA).

• Strong support is seen at 1.4471 (14DMA) and break below could take the pair towards 1.4442(61.8% fib )

Recommendation: Good to buy around 1.4490, with stop loss of 1.4490 and target price of 1.4580
 

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