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• EUR/AUD rebounded on Friday as upbeat Eurozone PMI data for January boosted euro across the board.
•A survey showed that Eurozone businesses saw a modest return to growth in the new year, with strong services activity in January and a slowdown in manufacturing easing..
•HCOB's preliminary composite Eurozone PMI, compiled by S&P Global, rose to 50.2 in January from 49.6 in December, just above the 50 mark indicating growth.
•The euro pair was up 0.28% against the Australian dollar at $1.6619, highest level since 22nd January .
• Immediate resistance is located at 1.6671(23.6% fib), any close above will push the pair towards 1.6743(Higher BB).
• Strong support is seen at 1.6532(38.2% fib) and break below could take the pair towards 1.6472(Lower BB).
Recommendation: Good to buy around 1.6600, with stop loss of 1.6540 and target price of 1.6730
