FxWirePro:EUR/AUD repeatedly capped by a key fibo resistance, expect a fall

• EUR/AUD gained on Tuesday as upbeat German investor sentiment survey supported euro.

• German investor sentiment surged to its highest level in May since the start of the COVID-19 pandemic.

• EUR/AUD recovery from  1.5458  low was  rejected  by the 50% fib at 1.5543.

• EUR/AUD remains vulnerable, only a break and daily close above  1.5608 (100DMA) will shift bias to the upside.

• Immediate resistance is located at 1.5543(50% fib), any close above will push the pair towards 1.5600(100DMA).

• Strong support is seen at 1.5448 (38.2%fib) and break below could take the pair towards 1.5408 (Lower BB).

Recommendation: Good to sell on  around 1.5510, with stop loss of 1.5590 and target price of 1.5440