• EUR/AUD declined on Thursday as Aussie outperformed euro as risk mood remained buoyant.
• Aussie was also aided by buoyant fed fund prices and weaker greenback.
• EUR/AUD trades 23.6%fib (1.5620), Break below will bolsters further bearish sentiment
• Technical lean bearish, RSI is has turned sharply lower, momentum studies, 9, 11 DMAs falling southwards.
• Immediate resistance is located at 1.5689 ( 5DMA), any close above will push the pair towards 1.5796(38.2%fib)
• Immediate support is seen at 1.5620(23.6%fib ) and break below could take the pair towards 1.5546(Higher BB).
Recommendation: Good to around 1.5680, with stop loss of 1.5780 and target price of 1.5480.
