• EUR /AUD slipped lower on Thursday as the pair attracted sellers after European Central Bank held interest rates at a record high of 4% as expected.
• The central bank for the 20 countries that share the euro currency kept its deposit rate at 4.0%, where it has been since September as part of a 1-1/2-year effort to rein in prices.
• EUR /AUD dipped to trade down 0.30% at 1.6432 after pulling back from 1.6516 overnight top.
• Technical signals are bearish as RSI is down at 41, daily momentum studies 9, 11 and 21 DMAs are trending down.
• Immediate resistance is located at 1.6464(50% fib), any close above will push the pair towards 1.6519 (61.8% fib).
• Immediate support is seen at1.6415 (38.2%fib) and break below could take the pair towards 1.6349(23.6%fib).
Recommendation: Good to sell around 1.6440, with stop loss of 1.6560 and target price of 1.6360
