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• EUR/AUD declined on Friday as the European Central Bank's dovish tone at a policy meeting on Thursday weighed on the euro.
• EUR/AUD fell to its lowest since March 29th as it tumbled from daily high of 1.5526.
• Technical signals are bearish as RSI is heading down at 30, daily momentum studies 5, 9 and 1 DMAs are trending down.
• Immediate resistance is located at 1.5399 ( 38.2%fib), any close above will push the pair towards 1.5461 (5 DMA)
• Strong support is seen at 1.5306 (Lower BB ) and break below could take the pair towards 1.5267(15th March low).
Recommendation: Good to sell on rally around 1.5360, with stop loss of 1.5450 and target price of 1.5280.
