• EUR/AUD declined on Monday as shifting political landscapes in France pressured the euro .
• Prime Minister Sébastien Lecornu tendered his resignation to President Emmanuel Macron just hours after unveiling his cabinet, marking the shortest-lived government in modern French history.
• President Emmanuel Macron asked his outgoing prime minister, who had resigned earlier in the day, to lead urgent talks with other parties to resolve the crisis,
• Politics may continue to be an issue for the euro with European Commission President Ursula von der Leyen facing renewed no-confidence bids this week..
• Immediate resistance is located at 1.7771 ( SMA 20), any close above will push the pair towards 1.7900 (50% fib)
• Support is seen at 1.7628 (38.2% fib) and break below could take the pair towards 1.7569(Lower BB).
Recommendation: Good to sell on rally around 1.7700, with stop loss of 1.7770 and target price of 1.7640.
