FxWirePro: EUR/AUD consolidating around 1.5575,bias is bullish

• EUR/AUD edged higher on Thursday after  softer U.S. CPI data fueled bets that Fed will slow rate hikes pace.

•U.S. consumer prices grew 6.5% on an annual basis in December, in line with expectations, after a 7.1% rise last month.

• The pair is currently approaching resistance at  38.2%fib. Break above is likely push the pair towards 1.5680 level.

• Technical signals are turning bullish as RSI is turning higher at 67, daily momentum studies  5, 9 and 10 DMAs are trending up.

• Immediate resistance is located at 1.5610( 38.2%fib), any close above will push the pair towards 1.5686 ( 21DMA).

•  Strong support is seen at 1.5459(38.2%  fib) and break below could take the pair towards 1.5429 (Lower BB).

  Recommendation: Good to buy around 1.5550, with stop loss of 1.5430 and target price of 1.5650.