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FxWirePro:EUR/AUD heads deeper into bear territory, bears plotting path toward 1.6000 
• EUR/AUD declined on Friday as drop was-assisted by weak Euro zone business activity data .
• Euro zone business activity sharply declined this month, with the region's dominant services sector contracting and manufacturing deepening its recession, according to a survey released on Friday.
• HCOB's preliminary composite euro zone Purchasing Managers' Index (PMI), compiled by S&P Global, fell to a 10-month low of 48.1 in November.
• Technical signals are bearish as RSI is at 33, momentum studies 11, 21 and 30 DMAs are trending down.
• Strong resistance is located at 1.6047(38.2% fib), any close above will push the pair towards 1.6110 (50% fib)
• Immediate support is seen at 1.5963 (23.6% fib) and break below could take the pair towards 1.5900(Psychological level).
Recommendation: Good to sell around 1.6050, with stop loss of 1.6150 and target price of 1.5900
