• EUR/AUD declined on Friday as attention turned to slew of central bank policy decisions , with the ECB all due to make rate decisions next week.
• The ECB is expected to hike by 50bp at its next two meetings, with a total of 143bp priced in by Q3, followed by a slower shift to rate cuts than the Fed.
• EUR/AUD is probing support zone 1.5252 (23.6%fib ) , Break lower risks run towards 1.5200 level in the short term.
•Technical signals are bearish as RSI is heading down at 35, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.5326( Daily high), any close above will push the pair towards 1.5373( 9DMA)
• Support is seen at 1.5252 (23.6%fib ) and break below could take the pair towards 1.5214(Lower BB).
Recommendation: Good to sell around 1.5300, with stop loss of 1.5400 and target price of 1.5200
