• EUR/AUD declined on Tuesday as Australian dollar strengthen after RBA minutes suggested more hikes due.
• The Aussie advanced against euro following the release of the minutes, as markets firmed up on expectations for a months-long period of further policy tightening.
• 38.2% fib at 1.4776 remains an impediment, break of that level will lead to test of lower BB.
• From a technical viewpoint, RSI is strongly bearish at 41, daily momentum studies, 5, 10 and 9 daily Mas are trending down.
• Immediate resistance is located at 1.4856 (5DMA), any close above will push the pair towards 1.4795 (50% fib).
• Immediate support is seen at 1.4776 (38.2% fib) and break below could take the pair towards 1.4666 (Lower BB).
Recommendation: Good to sell around 1.4830, with stop loss of 1.4900, and target price of 1.4730.
