• EUR/AUD declined on Tuesday as Australian dollar rose across the board on growing bets that RBA will hike rates.
• Risk-sensitive Australian dollar also benefitted from gains in commodity and equity prices
• At GMT 18:06, the pair was trading down 0.64 percent at 1.5557.
• Technical signals are bearish as RSI is heading down at 27, daily momentum studies 5, 9 and 11 DMAs are trending down.
• Immediate resistance is located at 1.5582( 23.6%fib), any close above will push the pair towards 1.5681 (38.2%fib)
• Support is seen at 1.5541 (Daily low ) and break below could take the pair towards 1.5490 (Lower BB).
Recommendation: Good to sell around 1.5560, with stop loss of 1.5680 and target price of 1.5480.
