• EUR/AUD remained broadly bid on Monday as the pair was aided by profit-taking on shorts.
• Political turmoil in France last week rattled risk appetite and sent investors fleeing from French assets and the euro which fell against Australian dollar last week .
• Technical signals are trending down as RSI is at 42, daily momentum studies 5, 9 and 10 DMAs are trending down.
•Immediate resistance is located at 1.6259(38.2% fib), any close above will push the pair towards 1.6331(50 % fib)
• Support is seen at 1.6162(23.6%fib ) and break below could take the pair towards 1.6162 (June 14th low).
Recommendation: Good to sell around 1.6250, with stop loss of 1.6350 and target price of 1.6180
