• EUR/AUD edged lower on Friday as traders wound down positions due to thinner liquidity ahead of the weekend.
• The pair’s movement was limited, reflecting a lack of fresh catalysts and a typical slowdown in market participation before the week’s close.
• Softer euro sentiment and cautious risk appetite also contributed to the modest dip in the cross.
• Technical are favouring bullish sentiment as RSI is at 51and the pair is trading above 5,9 SMAs.
• Immediate resistance is located at 1.7994 ( Higher BB), any close above will push the pair towards 1.8073( 38.2%fib)
• Support is seen at 1.7836(SMA 20) and break below could take the pair towards 1.7696(50% fib)
Recommendation: Good to buy 1.7820 with stop loss of 1.7760 and target price of 1.7880
