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FxWirePro: EUR/AUD rally capped by 38.2%fib resistance, good to sell on rally

• EUR/AUD initially gained  on Tuesday but rally fizzled as investors geared up for a fresh round of interest rate hikes from top central banks

• Key major events prevented EUR/AUD   from clearing important resistance in a pullback ahead of Fed, ECB and BoE meetings this week.

• From a technical viewpoint, RSI  is  bearish at 44, daily momentum studies, 9, 14 and 21 are trending down.

• Immediate resistance is located at 1.5410 (38.2%fib), any close above will push the pair towards 1.5497(Daily high).

• Immediate support is seen at 1.5340 (5DMA) and break below could take the pair towards 1.5275 (23.6%fib).

Recommendation: Good to sell around 1.5400, with stop loss of 1.5490 and target price of 1.5300
 

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