FxWirePro: EUR/AUD rallies above 1.6700 but reversal is likely

• EUR/AUD rebounded on Thursday as the pair was aided by profit-taking on shorts
• The pair is currently approaching resistance at 1.6956( 23.6% fib).

• Bulls will need to clear 1.7519 (38.2% fib) barrier to take greater control, failure to break higher could lead to further downside. 

• On the upside, Immediate resistance is located at 1.6956( 23.6% fib), any close above will push the pair towards 1.7150 (20 DMA).

• Support is seen at 1.6513 (200 DMA ) and break below could take the pair towards 1.6434 (Lower BB ).

Recommendation: Recommendation: Good to sell on rally around 1.6900, with stop loss of 1.7150 and target price of 1.6700.