• EUR/AUD initially dipped on Thursday but recovered towards 1.5572 as the pair was pulled around by the market's interpretation of central bank comments and inflation out.
• The recent dovish shift in ECB policy rhetoric and contrasting hawkish shift in Fed rhetoric is a bearish development for the euro.
• At GMT 18:54, the pair was trading down 0.12 percent at 1.5760.
• EUR/AUD remains vulnerable, only a break and daily close above 1.5820 (38.2%fib) will shift bias to the upside.
• Immediate resistance is located at 1.5775( Daily high), any close above will push the pair towards 1.5820 (38.2%fib)
• Support is seen at 1.5730 ( 50% fib) and break below could take the pair towards 1.5707(11DMA).
Recommendation: Good to sell around 1.5770, with stop loss of 1.5820 and target price of 1.5700.
