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• EUR/AUD eased on Monday as investors focused on future European Central Bank rate hikes.
• Expectations for monetary policy moves recently rose as banking crisis fears faded.
• At GMT 17:04, the pair was trading down 0.46 percent at 1.6032 after daily high at
1.6418
• From a technical are mixed , as RSI is ttrending down, daily momentum studies, 11, 14 and 21 are ttrending up.
• Immediate resistance is located at 1.6418 (23.6%fib), any close above will push the pair towards 1.6440 (Higher BB).
• Immediate support is seen at 1.6302 (11DMA) and break below could take the pair towards 1.63206 (11DMA).
Recommendation: Good to buy on dips around 1.6280, with stop loss of 1.6160 and target price of 1.6380
