• EUR/AUD steadied on Thursday after the Bank of England followed the U.S. Federal Reserve and the Swiss National Bank in hiking rates amid worries of a banking contagion.
• Pair traded in a quiet 1.1677/1.6256 range and was last trading at 1.6210 in late the US afternoon.
• Technical signals are bullish as RSI is at 67, daily momentum studies 10,11 and 14 DMAs are trending up..
• Immediate resistance is located at 1.6279( 23.6%fib), any close above will push the pair towards 1.6312 (Higher BB).
• On the downside, support is seen at 1.6152(5DMA ) and break below could take the pair towards 1.6121(38.2%fib).
Recommendation: Good to buy around 1.6200, with stop loss of 1.6120 and target price of 1.6280.