• EUR/AUD rose higher initially on Thursday but reversed course as US CPI report reinforced sell-off in the pair.
•Data showed U.S. inflation cooled in October, supporting expectations the Federal Reserve could slow its tightening pace.
•Sharp retreat has put EUR/NZD back below 21 DMA and has put the 38.2%fib at back in play.
• Immediate resistance is located at 1.5511 (21DMA), any close above will push the pair towards 1.5610 (50% fib).
• Strong support is seen at 1.5397(38.2% fib) and break below could take the pair towards 1.5315(Lower BB ).
Recommendation: Good to sell around 1.5530, with stop loss of 1.5510 and target price of 1.5350
