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• EUR/AUD declined on Wednesday as the pair continued its downward march after US inflation data.
• EUR/AUD drops from 1.6248 to 1.6147. Break lower 50%fib risks run towards 1.6100 level .
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is strongly bearish at 42.
• Immediate resistance is located at 1.6248 ( Daily high), any close above will push the pair towards 1.6275 (5DMA).
• Immediate support is seen at 1.6140 (50%fib) and break below could take the pair towards 1.6107 (Lower BB).
Recommendation: Good to sell around 1.6200, with stop loss of 1.6300 and target price of 1.6140.
