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• EUR/AUD declined on Tuesday as drops was-assisted mounting global growth concerns.
• The recession fears shook global markets and drove investors out of risky assets following Friday's soft U.S. payrolls report.
• A close below support at 50% fib will give further momentum to bears, opening the way for a run towards 1.6630 level.
• Strong resistance is located at 1.6863(38.2% fib), any close above will push the pair towards 1.7043(23.6% fib)
• Immediate support is seen at 1.6724 (50% fib) and break below could take the pair towards 1.6579 (61.8% fib).
Recommendation: Good to sell around 1.6750, with stop loss of 1.6850 and target price of 1.6640
