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- EUR/AUD has taken minor trendline support at 1.5235 and edged higher to currently trade at 1.5492 levels.
- Upside is struggling at 1.55 handle, the pair remains capped below major trendline resistance (currently at 1.5575).
- Intraday bias is higher, break above 1.55 can see gains upto 1.5575 and then 1.56 levels.
- Immediate support is seen at 1.5280 (rising trendline), 1.5220 (May 5th lows) and then 1.5207(100-DMA).
- Outcome of the ECB policy decision remains the major risk event for the pair.
Recommendation: Go long on decisive break above 1.55, SL: 1.5450, TP: 1.5575/1.56
