FxWirePro: EUR/AUD attracts selling interest, vulnerable to more downside

• EUR/AUD declined on Friday  as  improved  risk sentiment   and  higher commodities prices  boosted Australian dollar .

• EUR/AUD dived below the 50% fib and trades down to a  1.6360 low.

• Technical lean bearish, RSI is   sharply lower at 36, momentum studies, 9, 11 DMAs falling southwards. 

•   Immediate resistance is located at 1.6416 ( 50% fib), any close above will push the pair towards 1.6461 (Daily high)

• Immediate support is seen at 1.6342( 7665 (38.2% fib) and break below could take the pair towards 1.6256   (23.6% fib).

  Recommendation: Good to sell    around 1.6360, with stop loss of 1.6450 and target price of 1.6270