FxWirePro: EUR/AUD key resistance capped, but charts point north

• EUR/AUD recovered most of the ground from early fall on Friday as U.S. yields slump and weaker Australian dollar supported euro.

• The U.S. 10-year Treasury yield broke below key levels despite hotter-than-expected consumer inflation data on Thursday.

• Pair traded in   1.5662/1.5731  range and was last trading at 1.5718 into the US afternoon. 

• Technical signals are bushish as RSI is at 52, daily momentum studies  5,9 and 10 DMAs are trending up. 

•  Immediate resistance is located at 1.5735 ( 23.6%fib), any close above will push the pair towards 1.5774 (June 9th high)

• Strong  support is seen at 1.5660 (38.2% fib ) and break below could take the pair towards 1.5631 (Lower BB).

Recommendation: Good to buy  around 1.5700, with stop loss of 1.5630 and target price of 1.5760.