• EUR/AUD declined on Friday as Aussie outperformed euro as optimism about economic rebounds supported AUD.
• Australian dollar,which is closely linked to commodity prices and the outlook for global growth, has been helped by a recent rally in commodity prices.
• EUR/AUD dived below the 38.2% fib and is approaching to tesh 23.6%fib at1.5413.
• Technical lean bearish, RSI is strongly bearish, momentum studies, 9, 11 DMAs falling southwards.
• Immediate resistance is located at 1.5535 ( 38.2%fib), any close above will push the pair towards 1.8038 1.5588 ( 9DMA)
• Support is seen at 1.5413(23.6%fib ) and break below could take the pair towards 1.5329(3rd Dec 2018 low).
Recommendation: Good to sell around 1.5420, with stop loss of 1.5500 and target price of 1.5320.
