FxWirePro- Currency Strength Index (4- Hour chart)- Currency pairs to watch (EURAUD and EURJPY) for the day
FxWirePro: EUR/AUD reclaims 1.5700 handle after FOMC event
• EUR/AUD recovered from earlier decline on Wednesday as the pair attracted buyers after FOMC event .
• EUR/AUD reaches 1.5802 after pushing recovery envelope from 1.5716.EUR/AUD buying pushed the cross pair up 0.03% post FOMC.
• The pullback from the 1.5716 daily low has passed through the 38.2% fibonacci retrace point at 1.5755 and now eyes the 23.6% fib at 1.5830.
• Technical signals are bullish as RSI is at 56, daily momentum studies 5 ,9 DMA’s are trending higher.
• Immediate resistance is located at 1.5762 ( Higher BB), any close above will push the pair towards 1.5830 ( Higher BB).
• Immediate support is seen at 1.5755(38.2% fib) and break below could take the pair towards 1.5693 (50%fib).
Recommendation: Good to buy around 1.5760 with stop loss of 1.5680 and target price of 1.5830.
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