•EUR/AUD declined on Friday as euro was weighed down following dovish comment from ECB policy maker.
• EUR/AUD is now on course to register a close below the 1.5413 (5DMA ), chart points to bigger drop towards 1.5300.
•Technical signals are bearish as RSI is at 49, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.5572 (38.2 %fib), any close above will push the pair towards 1.5616 (Higher BB)
•Support is seen at 1.5413 (5DMA ) and break below could take the pair towards 1.5319 (50 %fib).
Recommendation: Good to sell on rally around 1.5460, with stop loss of 1.5550 and target price of 1.5360.
