• EUR/AUD declined on Friday as pair attracted seller on concern about election uncertainty in France.
• France's far-right National Rally (RN) extended its lead in a poll published on the last day of campaigning before Sunday's first round of parliamentary elections.
• The election results will be crucial in determining the EUR/AUD trajectory.
• Technical signals are bearish as RSI is heading down at 34, daily momentum studies 5, 9 and 1 DMAs are trending down.
• Immediate resistance is located at 1.6128 (38.2 %fib), any close above will push the pair towards 1.6211(50 %fib)
• Strong support is seen at 1.6027(23.6 %fib ) and break below could take the pair towards 1.5982(Lower BB).
Recommendation: Good to sell on rally around 1.6060 with stop loss of 1.6200 and target price of 1.5980
