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• EUR/AUD declined on Monday as equity , copper gains & USD/CNH drop buoyed Australian dollaracross the board.
• Investors will likely focus on the RBA Meeting Minutes and RBA Governor Bullock's speech on Tuesday for clue on Australian monetary policy .
• The pair dropped to test 38.2% fib support. A break under would unmask 1.6600 level .
• Technical lean bearish, RSI is trending lower , momentum studies, 9, 11 DMAs falling southwards.
• Immediate resistance is located at 1.6732 ( Nov 1st high), any close above will push the pair towards 1.6754(50% fib)
• Support is seen at 1.6663(38.2% fib) and break below could take the pair towards 1.6616 (50DMA).
Recommendation: Good to sell around 1.6690, with stop loss of 1.6780 and target price of 1.6600.
