• EUR/AUD declined on Thursday as stricter COVID-19 lockdowns in Europe weighed on euro,
• Control of COVID-19 is key for economic growth in 2021 in European Union and thus for the direction of EUR/AUD.
•At GMT 18:20, the pair was trading down 0.65 percent at $1.5616.
•Technical signals are bearish as RSI is heading down at 30, daily momentum studies 5, 9 and 1 DMAs are trending down.
•On the upside, Immediate resistance is located at 1.5623 ( 23.6%fib), any close above will push the pair towards 1.5712 (38.2%fib)
•On the downside, support is seen at 1.5592 (Daily low ) and break below could take the pair towards 1.5532 (Lower BB).
Recommendation: Good to sell around 1.5650, with stop loss of 1.5700 and target price of 1.5550.
