• EUR /AUD initially gained but gave up ground on Friday after the release of the US jobs report.
• Nonfarm payrolls increased by 303,000 jobs last month, the Labor Department said in its closely watched employment report on Friday.
• The pair hit daily low at 1.6496 and was last trading at 1.6461.
• Technical signals are bearish as RSI is at 40 daily momentum studies 9, 11 and 21 DMAs are trending down.
• Immediate resistance is located at 1.6496 (50% fib), any close above will push the pair towards 1.6518 (11DMA).
• Immediate support is seen at1.6412 (38.2%fib) and break below could take the pair towards 1.6318(Jan 29th low).
Recommendation: Good to sell around 1.6470, with stop loss of 1.6560 and target price of 1.6400
