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FxWirePro:EUR/AUD dips below lower range as US data helps shorts take the reins

•  EUR/AUD declined on Friday as  Aussie outperformed euro as risk sentiment improved after US jobs report.

• Investors sought riskier assets after U.S. economic data cemented expectations of a less-hawkish Fed.

• 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 1.5576 ( 5DMA), any close above will push the pair towards 1.5603(50%fib)

• Support is seen at 1.5468(38.2%fib ) and break below could take the pair towards 1.5377(Nov 24th low).

Recommendation: Good to sell around 1.5500, with stop loss of 1.5680  and target price of 1.5400.
 

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