• EUR/AUD dipped on Thursday as recession worries in Eurozone kept bearish pressure on euro.
• EUR/AUD fell to 1.4758 before steadying around 1.4838 in late US session.
• EUR/AUD it is just trading above the 38.2%fib support,A close below would add further bearish pressure.
•Technical are bearish, daily RSI is negative at 39, daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.4858 (5DMA ), any close above will push the pair towards 1.4918 (50%fib).
•Immediate support is seen at 1.4758(38.2%fib) and break below could take the pair towards 1.4638 (Lower BB).
Recommendation: Good to sell around 1.4850, with stop loss of 1.4960 and target price of 1.4770
