FxWirePro:EUR/AUD neutral in the near-term, scope for downward resumption

• EUR/AUD initially fell on Friday but recovered some ground after better-than-expected US jobs data.

• Data showed the U.S. economy generated 261,000 jobs in October, which was higher than an estimate of 200,000, according to a  poll of economists.

•If EUR/AUD breaks and closes below 38.2%fib support, it will increase downward pressure with initially target 1.5200.

• Technical signals are bearish as RSI is heading down  at 49, daily momentum studies  5, 9 and 11 DMAs are trending down. 

•Immediate resistance is located at 1.5475 ( 5DMA), any close above will push the pair towards 1.5622(23.6%fib)

•Support is seen at 1.5347(38.2%fib ) and break below could take the pair towards 1.5269(Daily low).

Recommendation: Good to sell on rally around 1.5380, with stop loss of 1.5500 and target price of 1.5260.