• EUR/AUD declined on Thursday as coronavirus-driven panic increased selling pressure.
• At GMT 16:54, the pair was trading down 0.52 percent at $1.7950.
• Technical signals are bearish as RSI is heading down at 56, daily momentum studies 5, 9 and 1 DMAs are trending down.
• On the upside, Immediate resistance is located at 1.8101 ( 9 DMA), any close above will push the pair towards 1.8172 (11 DMA)
• On the downside, support is seen at 1.7933 (50 %fib ) and break below could take the pair towards 1.7666 (April 1st low).
Recommendation: Good to sell on rally around 1.8100, with stop loss of 1.8300 and target price of 1.7400.
