FxWirePro: NZD/USD interim uptrend halts on streaks of bearish patterns – Trading & hedging setup ahead of RBNZ
FxWirePro: EUR/AUD rallies to 2-week high, good to buy on dips
• EUR/AUD peaked higher on Tuesday as euro attracted buyers ahead EU Summit and ECB meeting .
• Pair climbs above 1.6300 and holds near the day's high late in US session.
• EUR/AUD outlook remains bullish. Only a break and close below 1.6277 (23.6% fib), will shift the bias lower.
• Technicals are favouring bullish sentiment as RSI is at 51 and the pair is trading above 5 & 9-DMAs.
• On the upside, Immediate resistance is located at 1.6400 (Higher BB), any close above will push the pair towards 1.6456 (38.2 % fib).
• On the downside, support is seen at 1.6277 (23.6% fib) and break below could take the pair towards 1.6262 (11 DMA).
Recommendation: Good to buy around 1.6310, with stop loss of 1.6250 and target price of 1.6450