• EUR/AUD declined on Tuesday as move lower helped by dovish comments from ECB President Lagarde.
• EUR / AUD started the week under pressure after ECB President Christine Lagarde reiterated that the central bank's new strategy will make it very determined to revive inflation to the new symmetrical target.
• At GMT 15:46, the pair was trading down 0.24 percent at 1.5815.
• Technical signals highlight downside momentum as daily RSI is falling, a inverted hammer is forming on daily chart and EUR/AUD is trading below 50%fib.
• Immediate resistance is located at 1.5837 ( 50% fib), any close above will push the pair towards 1.5892(61.8%fib)
• Support is seen at 1.5810(9DMA ) and break below could take the pair towards 1.5777 (38.2%fib).
Recommendation: Good to sell around 1.5835, with stop loss of 1.5900 and target price of 1.5770.
