• EUR/AUD dipped on Wednesday as stronger Australian dollar and worries about gas supplies weighed on euro.
• EU raised fresh gas-supply worries, hobbling the euro's outlook a day before a key ECB meeting.
• The pair currently is approaching support at 1.4737 (23.6% fib). A break under 23.6% fib would unmask 1.4650 level in the short term.
• Technical signals show the pair is set to lose ground in the short-term as RSI is at 36 bearish, daily and weekly 5, 10 & 21 MAs heading lower.
• Immediate resistance is located at 1.4838 ( 5 DMA), any close above will push the pair towards 1.4988 (38.2%fib)
• Support is seen at 1.4737 (23.6%fib) and break below could take the pair towards 1.4673 (Lower BB).
Recommendation: Good to sell around 1.4770, with stop loss of 1.4870 and target price of 1.4700
