FxWirePro:EUR/AUD outlook weaker on renewed downside pressure

•EUR/AUD declined on Tuesday   as growing energy crisis in Eurozone weighed on euro.

• Russian state-owned energy company Gazprom said it will further cut gas flows through Nord Stream 1, Russia's biggest gas pipeline to Europe.

•At GMT 17:42, the pair was trading down 0.64 percent   at 1.4558.

• Technical signals are bearish as RSI is heading down  at 30, daily momentum studies  5, 9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.4706 ( 5DMA), any close above will push the pair towards 1.4802(25th July high).

•Support is seen at 1.4554 (23.6 %fib ) and break below could take the pair towards 1.4456(Lower BB).

Recommendation: Good to sell on rally around 1.4600, with stop loss of 1.4730 and target price of 1.4510.