• EUR/AUD declined on Tuesday as higher commodities prices and buoyed risk sentiment boosted Australian dollar.
• The euro erased Monday’s gains against the Australian dollar , the pair was last down at 0.03% at 1.6793
• EUR/AUD drops swiftly from 1.5688 to 1.5562. Break lower 50%fib risks run towards1.5450 level .
• From a technical viewpoint, the moving averages are pointing downwards, while the RSI is turning lower.
• Immediate resistance is located at 1.6854( 38.2%fib), any close above will push the pair towards 1.6870(14DMA).
• Immediate support is seen at 1.6757(Daily low) and break below could take the pair towards 1.6693 (50%fib).
Recommendation: Good to sell around 1.6800, with stop loss of 1.6950 and target price of 1.6720
