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•EUR/AUD declined on Monday as higher oil prices and increased risk appetite boosted demand for Australian dollar.
•Risk appetite got a boost on plans by U.S. President Joe Biden and Russia's Vladimir Putin to hold a summit on the Ukraine crisis.
•Technical signals are bearish as RSI is heading down at 43, daily momentum studies 5, 9 and 11 DMAs are trending down.
•Immediate resistance is located at 1.5766 ( 5DMA), any close above will push the pair towards 1.5825(50%fib)
•Support is seen at 1.5712(38.2%fib ) and break below could take the pair towards 1.5661(Lower BB).
Recommendation: Good to sell on rally around 1.5750, with stop loss of 1.57860 and target price of 1.5690.
