• EUR/AUD dipped on Thursday as worries about a recession in Europe and a slowdown in China weighed on the pair .
• EUR/AUD traded as high as 1.4892 before falling below 38.2 % fib level.
• Technical signals are bearish as RSI is at 49, daily momentum studies 5, 9 and 14 DMAs are trending south.
• Immediate resistance is located at 1.4824 (38.2%fib ), any close above will push the pair towards 1.4977(50% fib).
• Strong support is seen at 1.4713 (14DMA) and break below could take the pair towards 1.4594 (23.6% fib).
Recommendation: Good to sell around 1.4780, with stop loss of 1.5050 and target price of 1.4700.
