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FxWirePro:EUR/AUD slides to lower end of recent range as bear pressure resumes

• EUR/AUD declined on Tuesday as potential for escalation of Russia-Ukraine crisis weighed on euro.

• EUR/AUD slide also intensified on Fed's Brainard comments .EUR/AUD dropped swiftly from Monday's 1.4680 high to a 1.4481 low .

• Technical signals are bearish as RSI is heading down  at 37, daily momentum studies  5, 9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.4571 ( 5 DMA), any close above will push the pair towards 1.4723(38.2%fib)

• Support is seen at 1.4475 (23.6%fib ) and break below could take the pair towards 1.4276(Lower BB).

Recommendation: Good to sell on rally around 1.4570 with stop loss of 1.4730 and target price of 1.4700.

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