• EUR/AUD declined on Thursday as improved risk appetite and fading China concerns boosted Australian dollar against euro.
• EUR/AUD probing support zone1.5368 (38.2%fib ), Break lower risks run towards 1.5315 (Lower BB).
• Technical are bearish, daily RSI is turning negative at 49 , daily momentum studies 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.5461(5DMA ), any close above will push the pair towards 1.5531Higher BB).
• Strong support is seen at 1.5368 (38.2%fib ), and break below could take the pair towards 1.5315 (Lower BB).
Recommendation: Good to sell on around 1.5390 with stop loss of 1.5460 and target price of 1.5300
