• EUR/AUD declined on Friday as investors assessed jobs report that showed U.S. hiring rose broadly in September but also.
• U.S. nonfarm payrolls increased by 336,000 jobs last month. The numbers for August were revised higher to show 227,000 jobs added instead of the previously reported 187,000.
• EUR/AUD remains below 21 DMA,daily close below 50%fib will increase the scope for much bigger drop.
• Technical signals are bearish as RSI is at 48, momentum studies 11, 21 and 30 DMAs are trending down.
• Strong resistance is located at 1.6613( 21 DMA), any close above will push the pair towards 1.6645 (38.2% fib)
• mmediate support is seen at 1.6535 (50% fib) and break below could take the pair towards 1.6450 (Oct 3rd low).
Recommendation: Good to sell around 1.6580, with stop loss of 1.6650 and target price of 1.6500
