• EUR/AUD eased on Friday as rally in iron-ore and copper boosted Australian dollar.
•At GMT 18:56, the pair was trading up 0.34 percent at 1.6242 ,the pair hit daily high at 1.6306 .
• EUR/AUD remains vulnerable to downside. A sharper increase above 50 % fib resistance is needed to raise hopes for an uptrend.
• Technical signals are bearish as RSI is at 41, daily momentum studies 5, 9 and 10 DMAs are trending down.
•Immediate resistance is located at 1.6289 (38.2 % fib), any close above will push the pair towards 1.6346 (50 % fib)
• Support is seen at 1.6222 (23.6%fib ) and break below could take the pair towards 1.6179 (Lower BB).
Recommendation: Good to sell around 1.6250, with stop loss of 1.6370 and target price of 1.6160
