• EUR/AUD declined on Tuesday as deepening tensions between Ukraine and Russia weighed on euro.
• Tensions between Russia and Western nations are increasing after Russia recognized breakaway regions in Ukraine.
•The pair is approaching support at 23.6%fib,a daily close below will accelerate towards 1.5600 level in the short term.
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 40.
• Immediate resistance is located at 1.5730 ( 5DMA), any close above will push the pair towards 1.5773(38.2%fib).
• Strong support is seen at 1.5669 (23.6%fib) and break below could take the pair towards 1.5572 (Lower BB).
Recommendation: Good to sell around 1.5690, with stop loss of 1.5800 and target price of 1.5600.
