• EUR/AUD dipped on Monday as investors looked ahead to a week packed with economic data.
• Investors are also focused on euro zone employment data and U.S. consumer price figures due later this week for clues on the outlook for interest rates.
• Meanwhile, Euro zone investor sentiment turned positive in August, marking a fourth straight monthly rise as current economic conditions improved sharply..
• The euro zone’s Sentix index rose to 0.9 in August from -3.1 in July, beating the Reuters forecast of -0.5.
• Immediate resistance is located at 1.6467(Higher BB), any close above will push the pair towards 1.6539(50%fib)
• Support is seen at 1.6351(38.2%fib)and break below could take the pair towards 1.6258(Lower BB)
Recommendation: Good to sell around 1.6350 , with stop loss of 1.6450 and target price of 1.6300
