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• EUR/AUD flirted with 21 DMA resistance on Friday then slipped a little towards 1.6700 level. Technical signals further drop.
• In coming sessions the pair is set to drop towards 1.6555.A break and daily close below 200-DMA would weaken the outlook further.
• Upside risks is limited as barrier at 1.6949 (23.6% fib)is set to restricting higher move.
• Immediate resistance is located at 1.6765 ( 21 DMA), any close above will push the pair towards 1.6949 (23.6% fib).
• Support is seen at 1.6555 ( 200 DMA) and break below could take the pair towards 1.6470 (Lower BB).
Recommendation: Recommendation: Good to sell around 1.6700, with stop loss of 1.6990 and target price of 1.6500.
