• 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.
