FxWirePro: EUR/AUD pauses decline, critical support lies ahead

• EUR/AUD  recovered some ground from initial decline on Thursday  investors avoided making new  bets ahead of the U.S. jobs data.

• EUR/AUD   downtrend paused in the key 1.6000 support  area ahead of US jobs data. Sustained 1.6000 break would open the door to 1.5946 (55WMA).

• Technical signals are bearish as RSI is at 46, daily momentum studies  5,11 and 14 DMAs are trending down. 

• Immediate resistance is located at 1.6088 ( 5DMA), any close above will push the pair towards 1.6121 ( 38.2%fib).

• Immediate support is seen at 1.6000 (Psychological level) and break below could take the pair towards 1.5946 (55WMA).

 Recommendation: Good to sell around 1.6060, with stop loss of 1.6160 and target price of 1.5950.