• EUR/AUD holds narrow range on Monday as investors turned cautious ahead of minutes from last RBA meeting to be published on Tuesday .
• EUR/AUD capped by 38.2% fib resistance and showing indecision ahead of RBA meeting.
• Technicals are favouring bearish sentiment as RSI is at 37 and the pair is trading below 5,10 & 11-DMAs.
• Immediate resistance is located at 1.6004 (38.2% fib), any close above will push the pair towards 1.6056 (5DMA).
• Strong support is seen at 1.5853 (23.6% fib)and break below could take the pair towards 1.5766 (Lower BB).
Recommendation: Good to sell around 1.5980, with stop loss of 1.6100 and target price of 1.5880


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