• EUR/AUD declined on Thursday as surging energy prices gave a lift to Australian dollar.
• The Aussie was finding an upside in the global explosion of energy prices given Australia is a net exporter of energy and the world's leading exporter of liquefied natural gas (LNG)..
• At GMT 20:24, the pair was trading down 0.55 percent at 1.5795.
• Technical signals are bearish as RSI is heading down at 32, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.5824( 38.2% fib), any close above will push the pair towards 1.5893 (50%fib)
• Strong support is seen at 1.5917 (Lower BB ) and break below could take the pair towards 1.5720(23.6% fib).
Recommendation: Good to sell around 1.5800, with stop loss of 1.5900 and target price of 1.5710.
