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FxWirePro: EUR /AUD heads down as euro suffers after ECB rate decision

• EUR /AUD slipped lower on Thursday  as the pair attracted sellers after  European Central Bank held interest rates at a record high of 4% as expected.
 
• The central bank for the 20 countries that share the euro currency kept its deposit rate at 4.0%, where it has been since September as part of a 1-1/2-year effort to rein in prices.

• EUR /AUD dipped to trade  down 0.30% at  1.6432 after pulling back from 1.6516 overnight top.

• Technical signals are bearish as RSI is down  at 41, daily momentum studies 9, 11 and 21 DMAs are trending down. 

• Immediate resistance is located at 1.6464(50% fib), any close above will push the pair towards 1.6519 (61.8% fib).

• Immediate support is seen at1.6415 (38.2%fib) and break below could take the pair towards 1.6349(23.6%fib).

Recommendation: Good to sell around 1.6440, with stop loss of 1.6560 and target price of 1.6360

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