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• EUR/AUD rebounded on Wednesday as the cross pair attracted buying interest just before the year-end.
• Pair traded in 1.6140/1.6236 range and was last trading at 1.6222 up 0.34 percent in the US afternoon.
• Technical signals are bearish as RSI is at 41, daily momentum studies 5,9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.6250(38.2%fib), any close above will push the pair towards 1.6275 (Dec 21st high).
• Strong support is seen at 1.6143(23.6%fib ) and break below could take the pair towards 1.6118( (Lower BB).
Recommendation: Good to sell around 1.6250, with stop loss of 1.6350 and target price of 1.6150
