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FxWirePro: EUR/AUD bears maintain upper hand

• EUR/AUD dipped on Monday    as investors looked ahead to  a week packed with economic data.

• Investors are also focused on euro zone employment data and U.S. consumer price figures due later this week for clues on the outlook for interest rates.

• Meanwhile, Euro zone investor sentiment turned positive in August, marking a fourth straight monthly rise as current economic conditions improved sharply..

• The euro zone’s Sentix index rose to 0.9 in August from -3.1 in July, beating the Reuters forecast of -0.5.

•  Immediate resistance is located at 1.6467(Higher BB), any close above will push the pair towards 1.6539(50%fib)

• Support is seen at 1.6351(38.2%fib)and break below could take the pair towards 1.6258(Lower BB)

Recommendation: Good to sell around 1.6350 , with stop loss of 1.6450 and target price of 1.6300
 

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