FxWirePro: EUR/CHF edges higher after 5 straight days of weakness, upbeat German retail sales buoys euro
FxWirePro: EUR/AUD rebounds, critical resistance lies ahead
• EUR/AUD recovered most of the ground from early fall on Thursday as hawkish Fed benefited bulls.
• The is pair heading towards the 38.2%fib, as near term direction of the pair is likely to be driven by current price action.
• Pair traded in 1.5690/1.5793 range and was last trading at 1.5758 into the US afternoon.
• Technical signals are bullish as RSI is at 55, daily momentum studies 5,9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.57965 ( 38.2%fib), any close above will push the pair towards 1.5829 (Higher BB).
• Strong support is seen at 1.5740 (5DMA ) and break below could take the pair towards 1.5725 (50%fib).
Recommendation: Good to buy around 1.5750, with stop loss of 1.5660 and target price of 1.5820.