• EUR/AUD dipped towards 1.6300 level on Friday as investors digested Eurozone and US inflation data.
• The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department's Bureau said on Friday .
• Euro zone inflation in the 20 countries that share the euro rose by 2.6% year on year in May, inching away from the ECB's 2% target.
• From a technical viewpoint, RSI is strongly beaish at 45, daily momentum studies, 5, 9 and 11 are trending down.
• Immediate resistance is located at 1.6355(38.2%fib), any close above will push the pair towards 1.6383 (Higher BB).
• Immediate support is seen at 1.6274 (23.6%fib) and break below could take the pair towards 1.6239 (Lower BB).
Recommendation: Good to sell around 1.6320, with stop loss of 1.6450 and target price of 1.6260
