• EUR/AUD declined on Monday as Australian nationwide home prices data boosted Australian dollar.
• Traders will also look to a speech by deputy RBA Australia governor Guy Debelle on Thursday for insight into the bank’s thinking around its bond purchases outlook.
• At GMT 16:16, the pair was trading down 0.15 percent at 1.5552.
• Technical signals are bearish as RSI is heading down at 49, daily momentum studies 5 and 9 are trending down.
• Immediate resistance is located at 1.5623( 38.2%fib), any close above will push the pair towards 1.5663 (Higher BB)
• Strong support is seen at 1.5518 (30DMA ) and break below could take the pair towards 1.5457 (23.6%fib).
Recommendation: Good to sell around 1.5550, with stop loss of 1.5650 and target price of 1.5490.
