• EUR/AUD initially gained on Thursday but gave up ground after finding resistance 1.6361(23.6%fib).
• A inverted hammer candle so far Thursday bodes well for short plays.
• From a technical viewpoint, RSI is flat at 48, daily momentum studies, 5, and 9 daily trending up.
• Immediate resistance is located at 1.6278(11DMA), any close above will push the pair towards 1.6361 (23.6%fib).
• Immediate support is seen at 1.6253(9DMA) and break below could take the pair towards 1.6159 (38.2%fib).
Recommendation: Good sell around 1.6275, with stop loss of 1.6350 and target price of 1.6200
