• EUR/AUD initially gained towards 1.4533 on Tuesday but gains faded as the pair was weighed down by data showing weak German investor sentiment .
• Germany's downbeat ZEW indicated investors were growing more concerned about recession in Europe's largest economy, with elevated energy prices.
• Technical signals show RSI is at 38 , daily momentum studies 9, 10 and 11 DMAs are trending southwards
• Immediate resistance is located at 1.4486 (5DMA), any close above will push the pair towards 1.4557(38.2% fib).
• Immediate support is seen at 1.4435 (Daily low) and break below could take the pair towards 1.4392(23.6% fib).
Recommendation: Good to sell around 1.4480, with stop loss of 1.4540 and target price of 1.4480
