• 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.
