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•EUR/AUD declined on Monday as higher oil prices and increased risk appetite boosted Australian dollar against euro.
• Investors will be looking out for clues this week from the Reserve Bank Australia's meeting no hike forecasted but hawkish rhetoric is a possibility.
•Technical signals are bearish as RSI is heading down at 29, daily momentum studies 5, 9 and 11 DMAs are trending down.
•Immediate resistance is located at 1.5529 ( 38.2%fib), any close above will push the pair towards 1.5613 (50%fib)
•Strong support is seen at 1.5425 (23.6 %fib ) and break below could take the pair towards 1.5357 (Lower BB).
Recommendation: Good to sell on rally around 1.5450, with stop loss of 1.5540 and target price of 1.5370.
