• EUR/AUD declined on Thursday as higher equity and commodities prices boosted Australian dollar.
•The pair is approaching 23.6%fib,a daily close below will accelerate towards 1.5800 in the short term.
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is bearish at 32.
• Immediate resistance is located at 1.5919( 5DMA), any close above will push the pair towards 1.6001 ( 38.2%fib).
• Strong support is seen at 1.5859 (23.6%fib) and break below could take the pair towards 1.5802(Lower BB).
Recommendation: Good to sell around 1.5900, with stop loss of 1.5980 and target price of 1.5830.
