• EUR/AUD declined on Wednesday as extended lockdowns in Europe to combat the spread of COVID-19 and worries about the pace the rollout of vaccines in weighed on euro
• At GMT 17:20, the pair was trading down 0.65 percent at $1.5656.
• Technical signals are bearish as RSI is heading down at 36, daily momentum studies 5, 9 and 1 DMAs are trending down.
• On the upside, Immediate resistance is located at 1.5700( 38.2%fib), any close above will push the pair towards 1.5774(38.2%fib)
• On the downside, support is seen at 1.5602 (23.6%fib ) and break below could take the pair towards 1.5514(Lower BB).
Recommendation: Good to sell around 1.5660, with stop loss of 1.5800 and target price of 1.5550.
