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FxWirePro:EUR/AUD stuck in range, choppy price action persists

• EUR/AUD initially gained on Wednesday but lost some  ground  as markets were on the defensive as caution set in ahead of the U.S. Federal Reserve's latest policy decision.

• The pair’s recovery stalled after finding resistance at 1.5633(38.2%fib). Fed meeting might not drive much gains in this pair.

• Technical signals are mixed as RSI is bullish  at 53, daily momentum studies  5, 9 and 10 DMAs are trending flat. 

• Immediate resistance is located at 1.5632 ( 38.2%fib), any close above will push the pair towards 1.5667 (100DMA)

• Support is seen at 1.5460(23.6%  fib) and break below could take the pair towards 1.5405(Lower BB).

 Recommendation: Be on sidelines

  • Market Data
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