• EUR/AUD dipped on Wednesday as Australian dollar was supported by gains in key commodities prices and rise in healthcare and technology stocks.
• Australia's largest private hospital operator, Ramsay Health Care , soared as much as 29.8%, after receiving a A$20.05 billion ($14.83 billion) takeover bid from a consortium led by KKR.
• EUR/ AUD fell to 1.4552 close to the 23.6% fib. A break under 23.6% fib would unmask 1.4400 level in the short term.
• Technical signals are bearish as RSI is at 40, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Strong resistance is located at 1.4622(14DMA), any close above will push the pair towards 1.4776 (38.2%fib)
• Immediate support is at 1.4489 (23.6% fib) and break below could take the pair towards 1.4412 (Lower BB).
Recommendation: Good to sell around 1.4560 with stop loss of 1.4650 and target price of 1.4470


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