• EUR/AUD declined on Tuesday as less dovish than expected RBA minutes added to the AUD's shine.
• Highly anticipated minutes from Reserve Bank of Australia’s September monetary policy meeting stopped short of signalling a further cut to the cash rate.
• At GMT 18:05, the pair was trading down 0.28 percent at 1.6230.
• Technical signals are bearish as RSI is heading down at 43, daily momentum studies 5, 9 and 11 DMAs are trending down.
• On the upside, Immediate resistance is located at 1.6275 ( 50% fib), any close above will push the pair towards 1.6329 (61.8% fib)
• On the downside, support is seen at 1.6213 (38.2% fib ) and break below could take the pair towards 1.6189 (Daily low).
Recommendation: Good to sell around 1.6230, with stop loss of 1.6330 and target price of 1.6150.
