• EUR/AUD initially gained on Friday as nagging concerns about the Eurozone economy and the future pace of central bank interest rate hikes weighed on euro.
•Euro is likely to remain sensitive to EZ-US inflation outlook,markets awaited next week's U.S. inflation data that could influence the Fed's rates policy.
• EUR/AUD drops swiftly below 1.5500 level. Break lower 1.5396 risks run towards 1.5359.
• Technical lean bearish, RSI is lower at 47 daily momentum studies 9, 11 and 14 DMA’s are trending down.
• Immediate resistance is located at 1.5456 (9DMA), any close above will push the pair towards 1.5506 (50%fib).
•Support is seen at 1.5396 (Daily low) and break below could take the pair towards 1.5359 (38.2%fib).
Recommendation: Good to sell around 1.5430, with stop loss of 1.5530 and target price of 1.5340
