• EUR/AUD traded in tight range on Monday as trading was muted owing to equity/bond market closures, holiday liquidity drain.
• Eurozone inflation data for March is scheduled for release on Wednesday, with forecasts predicting a slight decrease to 2.5% from the previous figure of 2.6%.
•The pair remains bullish and might gain towards 1.6650 .The pair has seen a 1.6557 -1.6517 range on Monday.
• Immediate resistance is located at 1.6618 (23.6%fib), any close above will push the pair towards 1.6669 (Higher BB).
• Strong support is seen at 1.6510 (38.2%fib) and break below could take the pair towards 1.6479(Lower BB ).
Recommendation: Good to buy around 1.6550, with stop loss of 1.6450 and target price of 1.6650
