FxWirePro:EUR/AUD bulls lose traction, cannot add to overnight gains

• EUR/AUD initially gained on Thursday but gave up some ground as investors booked profits from recent gains.

•After four-days gain, pair has retreated to 1.5628 EUR/AUD may need a break above 23.6% fib to clear  assault on 1.5700.

• Technical signals are bullish as RSI is at 59, daily momentum studies  5, 9 and 10 DMAs are trending up. 

• Immediate resistance is located at 1.5641 (Higher BB), any close above will push the pair towards 1.5678 (23.6 % fib).

•  Strong support is seen at 1.5597 (38.2%fib ) and break below could take the pair towards 1.5542 (5DMA).

Recommendation: Good to buy around 1.5600, with stop loss of 1.5520 and target price of 1.5680