• EUR/AUD declined on Friday as buoyed risk sentiment boosted Australian dollar.
• The euro erased Thursday’s gains against the Asutralian dollardollar , the pair was last down at 0.66% at 1.6909
• EUR/AUD drops swiftly from 1.5688 to 1.5562. Break lower 50%fib risks run towards1.5450 level .
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 47.85.
• Immediate resistance is located at 1.5710 ( 38.2%fib), any close above will push the pair towards 1.5803 (Higher BB).
• mmediate support is seen at 1.5545(50%fib) and break below could take the pair towards 1.5485 (Jan 12th low).
Recommendation: Good to sell around 1.5580, with stop loss of1.5680and target price of 1.5500
