EUR/AUD initially rose on Wednesday, but later lost some ground as the euro struggled to maintain strength amid firm expectations that the ECB will cut rates before the Fed.
•The European Central Bank has signalled its intention to cut in June, assuming the data points in the right direction.
• At GMT 17:28, the pair was trading up 0.25 percent at 1.6337 after reaching daily high at 1.6382.
• Technical signals are bearish as RSI is heading down at 40, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.6382 ( 38.2% fib), any close above will push the pair towards 1.6438 (May 2nd High ).
• Support is seen at 1.6295 (Daily low) and break below could take the pair towards 1.6226 (23.6%fib).
Recommendation: Good to sell on rally around 1.6340, with stop loss of 1.6430 and target price of 1.6260


Pound-Yen Roars Back Above 214: Bulls Reload for 216–217 Charge on Dip-Buying Setup
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
FxWirePro: GBP/NZD slide extends ,eyes 2.2600 level
FxWirePro: GBP/USD recovers some ground but bears are not done yet
Ethereum Tumbles Below $2K: Bears Eye $1,700 as All Key EMAs Flip Red
FxWirePro: USD/ZAR sell bias remains below key resistance zone
FxWirePro: USD/JPY edges higher but bulls lack punch
FxWirePro: EUR/ NZD dips below lower range, bearish bias increases
FxWirePro- Major Crypto levels and bias summary
NZD/JPY Breakout Blast: Kiwi Rocket Smashes 94.50 Resistance, Bulls Lock Sights on 95
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: GBP/NZD extends decline , vulnerable to more downside
FxWirePro- Major Crypto levels and bias summary
FxWirePro: NZD/USD gains as hawkish RBNZ comments boost Kiwi dollar
FxWirePro: GBP/AUD downside pressure builds, key support level in focus 



