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FxWirePro:EUR/AUD capped key fibo,bears set to regain control

• EUR/AUD edged higher but gains were limited  as soft Australian jobs data prompted a rethink on RBA rate expectations Australian jobs data.

• Australian employment rose by more than expected in April, data showed on Thursday, but the jobless rate still climbed to a three-month top.

• EUR/AUD recovered some ground but lift stops after finding resistance at 1.6315 (38.2% fib).

•  Technical signals are bearish as RSI is heading down  at 40, daily momentum studies  5, 9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.6315 ( 38.2% fib), any close above will push the pair towards 1.6370(50% fib)

• Support is seen at 1.6241 (23.6% fib) and break below could take the pair towards 1.6188(Lower BB).

Recommendation: Good to sell on rally around 1.6290, with stop loss of 1.6360 and target price of 1.6200.

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