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FxWirePro:EUR/AUD slips towards 1.6030, as investors await ECB meeting

• EUR/AUD dipped on Wednesday as the attracted sellers  ahead of Thursday’s policy meeting of the European Central Bank (ECB).

• Investors awaited The ECB meeting  conclusion, with charts signaling a potential correction lower. 

• At GMT 20:53, the pair was trading down 0.21 percent   at  1.6027.

• Technically  -daily momentum remains bullish but fading  RSI has turned over from overbought . 

• Immediate resistance is located at 1.6037 ( 38.2% fib), any close above will push the pair towards 1.6120(23.6%fib)

• Strong support is seen at 1.5999 (5DMA ) and break below could take the pair towards 1.5968(50%fib).

Recommendation: Good to sell  around 1.6030, with stop loss of 1.6120 and target price of 1.5950.
 

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