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• EUR/AUD declined on Friday as Australian dollar strengthened ahead of RBA rate decision on July 4 .
• Investors expect Reserve Bank of Australia (RBA) to raise interest rates by 25 basis points in its upcoming policy meeting on Tuesday.
• A close below 1.6350, would add to pairs bearish structure, opening the way for a test of 1.6311 (5DMA)
• Immediate resistance is located at 1.6478( 38.2% fib), any close above will push the pair towards 1.6558(29th June high)
• Support is seen at 1.6350 (38.2%fib ) and break below could take the pair towards 1.6311 (5DMA).
Recommendation: Good to sell around 1.6380, with stop loss of 1.6470 and target price of 1.6300.
