• EUR/AUD initially declined to hit daily low at 1.5266 on Thursday but reversed some downside moves as investors reacted to the Federal Reserve’s policy statement a day earlier.
• Breaks of key supports still appear likely according to signals generated by technical, a move towards 1.5200 now looks viable.
• Technical lean bearish as RSI is heading down at 38, daily momentum studies 9, 10 and 11 DMAs are trending down.
• Immediate resistance is located at 1.5365 ( 5DMA), any close above will push the pair towards 1.5475 (38.2%fib)
• Support is seen at 1.5259(23.6%fib ) and break below could take the pair towards 1.5211(Lower BB).
Recommendation: Good to sell on rally around 1.5360 with stop loss of 1.5475 and target price of 1.5200.
