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FxWirePro: EUR/AUD sustains gains as uptrend remains strong

• EUR/AUD rally extended on Friday  as   soured risk sentiment, falling equities , lower oil prices  weighed on Australian dollar.

• EUR/AUD is now on course to register a   close above  1.5685 (23.6%fib)level, chart points to bigger gains towards  1.5700.  

• From a technical viewpoint, RSI  is strongly bullish at 60, daily momentum studies, 5, 10 and 21 daily  MAs all climb.

• Immediate resistance is located at 1.5685 (23.6%fib), any close above will push the pair towards 1.5735 (Higher BB).

• Immediate support is seen at 1.5536 (38.2% fib) and break below could take the pair towards 1.5495 (11DMA).

Recommendation: Good to buy on dips around 1.5670, with stop loss of 1.5600 and target price of 1.5730

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