FxWirePro: EUR/AUD bounce lacks traction, good to sell rallies

• EUR/AUD attempts recovery from fresh 2-week lows of 1.4283.
   
• Upside finds stiff resistance by 20-DMA at 1.4383, bearish invalidation only on decisive breakout above.
   
• Our previous call (http://www.econotimes.com/FxWirePro-EUR-AUD-rejected-at-highs-slips-below-20-DMA-good-to-sell-rallies-386508) has hit all targets.
   
• Bias still lower, we perceive upticks as shorting opportunities.
   
• Major support levels - 1.4283 (Nov 7 low), 1.42, 1.4130 (trendline), 1.4127 (Oct 26 low)
   
• Major resistance levels - 1.4356 (23.6% Fib), 1.4383 (20-DMA), 1.44, 1.4415 (5-DMA)
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Recommendation: Good to short rallies around 1.4350/60, SL: 1.4420, TP: 1.43/ 1.4280/ 1.4250/ 1.42