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EUR/AUD slides to lower end of recent range as virus fears hit risk

• EUR/AUD declined on Thursday as coronavirus-driven panic increased selling pressure.

• At GMT 16:54, the pair was trading down 0.52 percent   at $1.7950.

• Technical signals are bearish as RSI is heading down  at 56, daily momentum studies  5, 9 and 1 DMAs are trending down. 

•  On the upside, Immediate resistance is located at 1.8101 ( 9 DMA), any close above will push the pair towards 1.8172 (11 DMA)

• On the downside, support is seen at 1.7933 (50 %fib ) and break below could take the pair towards 1.7666 (April 1st low).

Recommendation: Good to sell on rally around 1.8100, with stop loss of 1.8300 and target price of 1.7400.

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