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- EUR/AUD rejected at session highs by 1.5298, slips lower to currently trade around 1.5188 levels.
- Broad-based US dollar weakness along with rallying oil and commodity prices supporting the resource-linked currencies.
- The pair finds resistance at 1.5247 (1H 20-SMA) and support at 1.5120 (falling trendline).
- Momentum studies are bearish, fall till 1.5120 likely. Further weakness could see test of 1.5026 (Apr 8th lows).
Recommendation: Good to sell rallies around 1.52 levels, SL: 1.5250, TP: 1.5120/ 1.51
