• EUR/AUD declined on Wednesday as increased risk appetite added to the AUD's shine.
• Investors sought riskier assets despite surging Omicron cases around the world
• Technical signals are bearish as RSI is heading down at 45, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.5769 ( 23.6% fib), any close above will push the pair towards 1.5861(61.8%fib)
• Support is seen at 1.5673(38.2%fib ) and break below could take the pair towards 1.5604(Lower BB).
Recommendation: Good to sell on rally around 1.5700, with stop loss of 1.57800 and target price of 1.5610.
