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FxWirePro: EUR/AUD holiday-dimmed rebound stalls at 38.2% fib,good to sell on rally

• EUR/AUD some recovered ground on Tuesday, but upside was limited   as spreading coronavirus in Europe forced investors to dump euro.

• EUR/AUD recovery from  1.5424 low was  rejected  by the 50-day moving average and 38.2%fib 1.5536.

• EUR/AUD remains vulnerable, only a break and daily close above 50% fib at 1.5686 will shift bias to the upside.

• Immediate resistance is located at 1.5536 (38.2% fib), any close above will push the pair towards 1.5607(24th March high).

• Strong support is seen at 1.5447 (5DMA) and break below could take the pair towards 1.5351 (23.6%fib).

Recommendation: Good to sell on  around 1.5470, with stop loss of 1.5540 and target price of 1.5400

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