FxWirePro: EUR/AUD key support held, downside risk remains

• 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.