• EUR/AUD initially gained on Thursday, but gave up ground as latest sign of the euro zone’s struggles to keep the coronavirus pandemic in check weighed on the pair.
• France ordered its third national lockdown on Wednesday as the country sought to push back a third wave of COVID-19 infections.
• At GMT 16:38, the pair was trading up 0.23 percent at 1.5469 after reaching daily high at 1.5554.
• EUR/AUD remains bearish, only a close back above 1.5729 (50%fib), could upset the bearish order.
• Immediate resistance is located at 1.5566(38.2%fib ), any close above will push the pair towards 1.5585 (Higher BB).
• Strong support is seen at 1.5422(5DMA) and break below could take the pair towards 1.5360(23.6%fib).
Recommendation: Good to sell around 1.5480, with stop loss of 1.5600 and target price of 1.5400
