•EUR/AUD declined on Monday as traders weighed the likely impact of fresh European COVID-19 restrictions on economic prospects.
•Euro has dipped against Australian dollar as investors bet that Europe's economy will lag the U.S. recovery.
•At GMT 17:04, the pair was trading down 0.17 percent at 1.5565.
•Technical signals are bearish as RSI is heading down at 47, daily momentum studies 21, 30 and 50 DMAs are trending down.
•Immediate resistance is located at 1.5658 ( 18th Nov high), any close above will push the pair towards 1.5727 (50%fib)
•Support is seen at 1.5455 (23.6%fib ) and break below could take the pair towards 1.5364 (Lower BB).
Recommendation: Good to sell on rally around 1.5580, with stop loss of1.5700 and target price of 1.5500
