• EUR/AUD declined on Friday as improved risk sentiment and higher commodities prices boosted Australian dollar .
• EUR/AUD dived below the 50% fib and trades down to a 1.6360 low.
• Technical lean bearish, RSI is sharply lower at 36, momentum studies, 9, 11 DMAs falling southwards.
• Immediate resistance is located at 1.6416 ( 50% fib), any close above will push the pair towards 1.6461 (Daily high)
• Immediate support is seen at 1.6342( 7665 (38.2% fib) and break below could take the pair towards 1.6256 (23.6% fib).
Recommendation: Good to sell around 1.6360, with stop loss of 1.6450 and target price of 1.6270
