• EUR/AUD declined on Monday as drop was-assisted by weak Euro zone manufacturing activity data and French political drama .
• France's National Rally gave Prime Minister Michel Barnier an ultimatum, demanding concessions in his proposed budget by Monday or risk facing their support for a no-confidence motion.
• HCOB's final euro zone manufacturing Purchasing Managers' Index (PMI), compiled by S&P Global, sank to 45.2 in November, data showed on Monday.
• Technical signals are bearish as RSI is at 33, momentum studies 11, 21 and 30 SMAs are trending down.
• Strong resistance is located at 1.6245(50% fib), any close above will push the pair towards 1.6288 (30SMA)
• Immediate support is seen at 1.6151 (38.2% fib) and break below could take the pair towards 1.6046(3.6% fib).
Recommendation: Good to sell around 1.6220, with stop loss of 1.6290 and target price of 1.6150
