FxWirePro: EUR/AUD Trade Idea

EUR/AUD chart on Trading View used for analysis

Major Trend : Bullish
Minor Trend: Bullish

Technical Analysis:
- Momentum studies are highly bullish
- +ve DMI dominance and ADX is rising in support
- Price action above cloud and major moving averages
- Pair has broken above 88.6% Fib 

Support levels - 1.6087 (88.6% Fib), 1.6003 (5-DMA), 1.5836 (21-EMA)
Resistance levels - 1.6140 (Apr 25 high), 1.6191 (Mar 28 high), 1.62

Recommendation: Good to go long on dips, SL: 1.6085, TP: 1.6140/ 1.6190

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at -72.5567 (Neutral), while Hourly AUD Spot Index was at -154.971 (Bearish) at 0745 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.