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FxWirePro: EUR/AUD struggle to extend its recovery, good to sell on rally

• EUR/AUD after initially gaining on Thursday  the pair gave most of th ground after   ECB left rates unchanged.

•The European Central Bank left interest rates unchanged as expected on Thursday, snapping an unprecedented streak of 10 consecutive rate hikes, and maintained its guidance.

• In an up-and-down session, the pair hit high at 1.6826 in early trading then fell  towards 1.6692   level.

• Technicals signals are a bit mixed   as RSI is flat, daily momentum studies  5, and 9 DMAs are trending  up.

• Immediate resistance is located at 1.6729 (38.2%fib), any close above will push the pair towards 1.6837 (23.6%fib).

• Strong support is seen at 1.6678(14DMA) and break below could take the pair towards 1.6642 (50%fib)

Recommendation: Good to sell around 1.6690 with stop loss of 1.6800  and target price of 1.6600

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