• EUR/AUD eased towards 1.6360 as but losses were limited as investors awaited Reserve Bank of Australia rate decision .
• The Reserve Bank of Australia will likely raise its interest rate by 25 basis points to 4.35% on Tuesday to tame stubbornly high inflation.
• EUR/AUD is trading in range between 1.6414 and 1.6326 as the pair is struggling for direction.
• Immediate resistance is located at 1.6414 ( 5DMA), any close above will push the pair towards 1.6539 (23.6%fib).
• Immediate support is seen at 1.6326 (38.2%fib) and break below could take the pair towards 1.6252(July 27th low).
Recommendation: Be on sidelines.
