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FxWirePro: EUR/AUD under pressure after early buying dries up, knocking on door of key support

• EUR/AUD declined on Tuesday as prospect of greater Fed, ECB divergence weighed on the pair.

• Investors leaned towards the Fed becoming more aggressive on rate hikes while the ECB remains accommodative.

• A daily bearish candle has formed and daily RSI is falling again both of which highlight bearish technicals.

•  Immediate resistance is located at 1.5833( 38.2%fib), any close above will push the pair towards 1.5850( Higher BB)

• Strong support is seen at 1.5747 (50% fib) and break below could take the pair towards 1.5702 (21DMA).

Recommendation: Good to sell around 1.5760, with stop loss of 1.5850 and target price of 1.5670.
 

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