FxWirePro: EUR/AUD edges higher from fresh 2-month lows at 1.4984, good to sell rallies

EUR/AUD broke below the 1.50 barrier to hit fresh 2-month lows at 1.4984.

• The pair has since pared some losses to currently trade at 1.5023, but weakness on charts to drag the pair lower.
   
• Next immediate support for the pair lies at 1.4961 (July 30 lows), and further below at 1.4875 (Nov 19th lows).
   
• Momentum studies are bearish, RSI and Stochs on both daily and weekly charts, converging downwards to the prevailing price dips.
   
• Bearish invalidation above 1.5212 (cloud base).

Recommendation: Good to sell rallies around 1.5020, SL: 1.51, TP: 1.4960/1.49/1.4875