FxWirePro:EUR/AUD key support held, downside risk remains

• EUR/AUD declined on Thursday as diverging  RBA and Federal Reserve monetary policy and higher commodity prices supported Australian dollar.

• The pair hit daily low at 1.5735 it was last down 0.01% at GMT 18:14.

•The pair is approaching 50% fib support at 1.5716, a daily close below  will accelerate downtrend towards lower BB.

 • From a technical viewpoint, the daily moving averages are pointing downwards, while the RSI  is  bearish at 49.

•  Immediate resistance is located at 1.5752 ( 21 DMA), any close above will push the pair towards 1.5792( 38.2 % fib).

• Strong support is seen at 1.5716 (50% fib ) and break below could take the pair towards 1.5670(Lower BB).

Recommendation: Good to sell around 1.5740, with stop loss of 1.5800 and target price of 1.5670.