• EUR/AUD declined on Monday as increased risk appetite boosted Australian dollar
• Copper gains, USD/CNH drop below 6.7820 also helped Australian dollar rally against euro.
• At GMT 17:32, the pair was trading down 0.73 percent at 1.5459.
•Technical signals are bearish as RSI is heading down at 44, daily momentum studies 5, 9 and 11 DMAs are trending down.
•Immediate resistance is located at 1.5542( 9DMA), any close above will push the pair towards 1.5604 (50% fib)
• Support is seen at 1.5439 (38.2% fib) and break below could take the pair towards 1.5345 (Lower BB).
Recommendation: Good to sell around 1.5480, with stop loss of 1.5620 and target price of 1.5410
