• EUR/AUD gave up early gains on Wednesday as worries of third wave of COVID-19 infections in Eurozone weighed on the pair.
• EUR/AUD hit daily high at 1.5436, before retreating slightly trade at 1.5427 by 16:53 GMT.
• EUR/AUD is in danger of crashing under major fibo support, clear break of 1.5436 opens 1.5300 level.
• Technical signals favours bearish sentiment, RSI is at 46 and pair trades below 5,11 & 14-DMAs.
• Immediate resistance is located at 1.5436 (30DMA), any close above will push the pair towards 1.5500(Psychological level).
• Strong support is seen 1.5378(23.6%fib) and break below could take the pair towards 1.5304(Lower BB)
Recommendation: Good to sell around 1.5420, with stop loss of 1.5500 and target price of 1.5330
