FxWirePro:EUR/AUD getting back on track for run toward 1.6500 level

• EUR/AUD initiall dipped    on Wednesday  but recovered some ground as  investors digested  Powell’s comments, FOMC decision.

•Fed left its key interest rate unchanged, as expected, but indicated that its next move will probably be to cut rates.

•EUR/AUD    has run out of steam after hitting daily low at 1.6416 but the pair is holding onto bull territory.

•Technical   highlight upside risks. The5- and 9 day moving averages lend support, daily RSI is  trending up  

• Immediate resistance is located at 1.8059(23.6%fib), any close above will push the pair towards 1.8111(April 17th high).

• Immediate support is seen at 1.7999 (SMA 5) and break below could take the pair towards 1.7953 (38.2%fib).

Recommendation: Good to buy round 1.6430  with stop loss of 1.6330   and target price of 1.6500