• EUR/AUD was little changed on Wednesday as investor’s awaited fresh catalyst for further direction.
• Investors awaited key PMI data from Germany and Euro zone as a whole on Thursday.
• The pair was last trading at 1.6642. A break under would unmask 1.6550 level .
• Technical lean bearish, RSI is trending lower at 49 , momentum studies, 9, 11 DMAs falling southwards.
• Immediate resistance is located at 1.6680 (50% fib), any close above will push the pair towards 1.6696(9DMA)
• Support is seen at 1.6602(38.2% fib) and break below could take the pair towards 1.6500 (23.6% fib).
Recommendation: Good to sell around 1.6650, with stop loss of 1.6750 and target price of 1.6580
