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FxWirePro:EUR/AUD stuck in range but maintains bearish bias

• EUR/AUD edged higher on Wednesday as buoyant equities and oil's rally supported euro

• However, pair eroded some of day's gains as Brexit danger  soured bullish sentiment  .

• Underlying trend for the pair remains bearish. A break below 1.6135 (23.6% fib) might spur increased downward momentum..

• Immediate resistance is located at 1.6214(5DMA), any close above will push the pair towards 1.6345 (38.2%fib).

• Strong support is seen at 1.6135 (23.6% fib) and break below could take the pair towards 1.6036 (Lower  BB )

Recommendation: Good to sell  around 1.6200, with stop loss of 1.6340 and target price of 1.6030

 

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