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FxWirePro:EUR/AUD slides as threat of more Russia sanctions weigh

• EUR/AUD declined sharply on Tuesday  as stronger Australian dollar and prospect of more Russia sanctions weighed on euro.

• The United States and European countries pledged on Monday to punish Moscow over civilian killings in northern Ukraine. 

• New sanctions could include restrictions on the billions of dollars in energy that Europe imports from Russia.

• Technical signals are bearish as RSI is heading down  at 28, daily momentum studies  5, 9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.4475 ( 38.2%fib), any close above will push the pair towards 1.8172 (11 DMA)

• Support is seen at 1.4270(Lower BB ) and break below could take the pair towards 1.4222 (23.6%fib).

Recommendation: Good to sell around 1.4370, with stop loss of 1.4480 and target price of 1.4290.
 

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