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FxWirePro:EUR/AUD bearish again as upside bias reverses

• EUR/AUD declined on Monday as Australian nationwide home prices data boosted Australian dollar.

• Traders will also look to a speech by deputy RBA Australia governor Guy Debelle on Thursday for insight into the bank’s thinking around its bond purchases outlook.

• At GMT 16:16, the pair was trading down 0.15 percent   at 1.5552.

•  Technical signals are bearish as RSI is heading down  at 49, daily momentum studies  5 and 9   are trending down. 

•  Immediate resistance is located at 1.5623( 38.2%fib), any close above will push the pair towards 1.5663 (Higher BB)

• Strong support is seen at 1.5518 (30DMA ) and break below could take the pair towards 1.5457 (23.6%fib).

Recommendation: Good to sell   around 1.5550, with stop loss of 1.5650 and target price of 1.5490.
 

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