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FxWirePro:EUR/AUD falls below 1.5400, bears keep the advantage

• EUR/AUD declined on Thursday as improved risk appetite and fading China  concerns boosted  Australian dollar against euro.

• EUR/AUD probing support  zone1.5368 (38.2%fib ), Break lower risks run towards 1.5315 (Lower BB).  

• Technical are bearish, daily RSI is turning negative  at 49 , daily momentum studies  9 and 10 DMAs are trending down. 

• Immediate resistance is located at 1.5461(5DMA ), any close above will push the pair towards 1.5531Higher BB).

• Strong support is seen at 1.5368 (38.2%fib ), and break below could take the pair towards 1.5315 (Lower BB).

Recommendation: Good to sell on  around 1.5390 with stop loss of 1.5460 and target price of 1.5300
 

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