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FxWirePro: EUR/AUD gains some upside momentum but still bearish

• EUR/AUD recovered some ground on Tuesday as the faster rise in German yields over U.S. yield rises supported euro.

• EUR/AUD fell as low as 1.5335 before buyers returned and underpinned .

 •Support at 1.5335(23.6% fib ) is holding  but,  a break and daily close below  the   would be a very bearish sign.

• Technical signals are bearish as RSI is at 33, daily momentum studies  10,11 and 14 DMAs are trending down. 

•   Immediate resistance is located at 1.5441( 5DMA), any close above will push the pair towards 1.5481  (38.2%fib).

• Support is seen at 1.5335(23.6% fib ) and break below could take the pair towards 1.5283 (Lower BB)..


Recommendation: Good to sell   around 1.5450, with stop loss of 1.5500 and target price of 1.5380.
 

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