• EUR/AUD declined on Friday on as stronger Australian dollar drove EUR/AUD drove the pair lower.
• Australian dollar strengthened across the board driven by gains in equities, iron-ore and copper.
• Price slides to 1.4668 from 1.4818 daily high. The pair has dropped 150 pips, on Friday.
• EUR/AUD is now on course to register a close below the 1.4642 (11DMA ) , chart points to bigger drop towards 1.4550.
• Immediate resistance is located at 1.4701 (38.2% fib), any close above will push the pair towards 1.4822 (50% fib).
• Strong support is seen at 1.4642 (11DMA) and break below could take the pair towards 1.4545 (23.6% fib ).
Recommendation: Good to sell around 1.4670, with stop loss of 1.4760 and target price of 1.4550
