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FxWirePro:EUR/AUD weighed down as investors seek out riskier assets

• EUR/AUD declined on Tuesday   as improving risk sentiment boosted riskier currencies such as the Australian dollar

• At GMT 17:08, the pair was trading down 0.43 percent   at 1.5782.

• The pair is currently approaching support at 1.5782(50 %fib ),break at 1.5782 is likely to push the pair further downside.

•  Technical signals are bearish as RSI is    at 48, daily momentum studies  5, 9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.5846 ( 14 DMA), any close above will push the pair towards 1.5879 (38.2%fib)

• Immediate support is seen at 1.5777 (50 %fib ) and break below could take the pair towards 1.5675(61%fib).

Recommendation: Good to sell around 1.5800, with stop loss of 1.5900 and target price of 1.5700.

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