• EUR/AUD declined on Thursday as surging COVID-19 cases and concerns about extended lockdowns in Europe weighed on the pair.
• EUR/AUD traded below 1.5604 ( 38.2% fib) for the entire US session.On ongoing angst regarding diverging progress out of the pandemic is likely to weigh on the pair.
• Todays dip has turned the daily signals into negative territory,a move towards 1.5400 now looks viable.
• Immediate resistance is located at 1.5604 ( 38.2% fib), any close above will push the pair towards 1.5655(Higher BB)
• Support is seen at 1.5454 (21DMA ) and break below could take the pair towards 1.5419 (23.6%fib).
Recommendation: Good to sell around 1.5560, with stop loss of 1.5650 and target price of 1.5430
