• EUR/AUD declined on Friday as euro remained under pressure from sellers.
• The pair currently is approaching support at 1.6549 (200 DMA ). A break under 1.6549 would unmask 1.6400 level in the short term.
• Technical signals are bearish as RSI is at 37 & pair trades below falling 5, 10 & 21-DMAs
• On the upside, Immediate resistance is located at 1.6780 (5DMA), any close above will push the pair towards 1.6961 (23.6% fib)
• On the downside, support is seen at 1.6549 (200 DMA ) and break below could take the pair towards 1.6413 (Lower BB).
Recommendation: Good to sell on rally around 1.6670, with stop loss of 1.7000 and target price of 1.6400.
