FxWirePro: EUR/AUD bid as AUD eases, but charts and fundamentals weigh

• EUR/AUD recovered some ground on Monday but  retreated from recent highs as coronavirus, economic and trade concerns dented  surge.

• The pair is currently approaching resistance at 1.6456 (38.2 %fib). Resistance at 1.6456 is likely to cap further upside in the pair.

• Technical signals are bearish as RSI is at 46, momentum studies  30, 50  DMAs are trending down. 

• On the upside, Immediate resistance is located at 1.6415 ( 9DMA), any close above will push the pair towards 1.6456 (38.2 %fib).

• On the downside, support is seen at 1.6327 (Daily low) and break below could take the pair towards 1.6276 (23.6% fib).

Recommendation: Good to sell around 1.6400, with stop loss of 1.6500 and target price of 1.6300.