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FxWirePro:EUR/AUD dips below lower range, bearish bias increases

• 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.
 

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