• EUR/AUD initial gained after Fed statement but gave up ground as Eurozone gas supply issues continued weighed on euro.
• Euro is under pressure since yesterday on the back of latest natural gas supply-related headlines out of Russia.
• Technical are bearish, daily RSI is negative at 30, daily momentum studies 5,8 and 11 DMAs are trending down.
• Immediate resistance is located at 1.4642(5 DMA), any close above will push the pair towards 1.6925 (July 25th high).
• Immediate support is seen at 1.4550 (23.6 % fib) and break below could take the pair towards 1.4479 (Lower BB).
Recommendation: Good to sell around 1.4570, with stop loss of 1.4650 and target price of 1.4500.
