• EUR/AUD edged higher but gains were limited on Thursday as investors digested European Central Bank rate decision.
• The European Central Bank left interest rates unchanged on Thursday but signalled that further policy tightening remains possible in the coming months as escalating Middle East tensions pushed up energy prices again.
• The ECB kept its deposit rate unchanged at 2.25% but said it was "closely monitoring the intensity and duration of the shock, as well as its indirect and second-round effects.
• From a technical viewpoint, RSI is strongly beraish at 43, daily momentum studies, 9, 11 and 14 are trending down.
• Immediate resistance is located at 1.6337(Daily high), any close above will push the pair towards 1.6418(50%fib)
• Support is seen at 1.6261(38.2%fib)and break below could take the pair towards 1.6209 (Lower BB)
Recommendation: Good to sell around 1.6340 , with stop loss of 1.6400 and target price of 1.6250
