•EUR/AUD declined on Friday as growing concerns over the Delta variant of the coronavirus and dovish comments from the European Central Bank attracted seller.
•The European Central Bank (ECB) sent a dovish signals after President Christine Lagarde said that the euro zone economy has begun to recover from the recession , but this recovery is still fragile.
•At GMT 17:04, the pair was trading down 0.40 percentat $1.5791.
• Technical signals are bearish as RSI is heading down , daily momentum studies 5, 9 and 10DMAs are trending southwards.
• Immediate resistance is located at 1.5821 ( 38.2%fib), any close above will push the pair towards 1.5877 (23.6%fib)
• Strong support is seen at 1.5777 (50 %fib ) and break below could take the pair towards 1.5759 (30DMA).
Recommendation: Good to sell around 1.5800, with stop loss of 1.5900 and target price of 1.5710.
