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FxWirePro: EUR/AUD down trend on the brink of resuming

• EUR/AUD declined on Tuesday  as Aussie outperformed euro as risk sentiment improved.

• EUR/AUD dived below the 38.2% fib and trades down to a 1.5587 low.

• Technical lean bearish, RSI is turning sharply lower, momentum studies, 9, 11 DMAs falling southwards. 

• Immediate resistance is located at 1.5616 (38.2% fib), any close above will push the pair towards 1.5717 (50%fib)

• Support is seen at 1.5540 (Lower BB ) and break below could take the pair towards 1.5493(23.6% fib).

Recommendation: Good to sell   around 1.5590, with stop loss of 1.5700 and target price of 1.5500
 

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