FxWirePro: EUR/AUD resumes downside as volatility settles, good to short rallies

• As noted in our previous call (http://www.econotimes.com/FxWirePro-EUR-AUD-faces-major-resistance-at-200-DMA-further-upside-only-on-break-above-391547), the pair remained capped below 200-DMA.
   
• We see resumption of downside as volatilty settles post U.S. election.
   
• Technicals are bearishly aligned, bearish invalidation only on close above 20-DMA 1.4345.
   
• Major support levels - 1.4612 (50% Fib), 1.45 (38.2% Fib), 1.4480 (trendline), 1.4381 (20-DMA).
   
• Major resistance levels - 1.4726 (61.8% Fib), 1.4908 (200-DMA), 1.5096 (Sept 15 high).
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Recommendation: Good to sell rallies around 1.4260, SL: 1.43, TP: 1.42/ 1.4185/ 1.4130