• EUR/AUD was little changed on Wednesday as market side-lined ahead of Fed minutes later today.
• Minutes from the Fed's June policy meeting, due later on Wednesday, could shed some light on the timetable for the tapering of its pandemic-induced bond-buying spree.
• At GMT 18:05, the pair was trading up 0.02percent at 1.5763.
• Technical signals are bearish as RSI is heading down at 49, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.5776 ( 50% fib), any close above will push the pair towards 1.5818 (61.8%fib)
• Strong support is seen at 1.5754 (38.2%fib ) and break below could take the pair towards 1.5714(23.6% fib).
Recommendation: Good to sell around 1.5770, with stop loss of 1.5860 and target price of 1.5700.
