• EUR/AUD declined on Friday after data showed U.S. job growth slowed more than expected in October.
• Data showed nonfarm payrolls increased by 150,000 jobs last month. The numbers for Sept were revised lower to show 297,000 jobs created instead of 336,000 as previously reported.
• The pair hit daily low at 1.6461 and was last trading at 1.6473 at (GMT 19:16).
• From a technical viewpoint, RSI is strongly bearish at 40, daily momentum studies, 5, 10 and 11 daily MAs are pointing lower.
• Immediate resistance is located at 1.6538 (38.2%fib), any close above will push the pair towards 1.6464 (5DMA).
• Immediate support is seen at 1.6447 (23.6%fib) and break below could take the pair towards 1.6395 (2nd Oct low).
Recommendation: Good to sell around 1.6500, with stop loss of 1.6600 and target price of 1.6410
