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FxWirePro:EUR/AUD falls on poor NFP data, plunge to test a key fibo grows

• EUR/AUD declined on Friday as  the cross pair  attracted sellers after U.S. non-farm payrolls disappointed expectations.

• EUR/AUD fell 0.70%, breaking  5DMA at 1.5776  , as well as the 38.2% fibo retracement at 1.5748.
 
• Technical signals has turned bearish as RSI is heading down  sharply, daily momentum studies  5, 9 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.5748 ( 38.2%fib), any close above will push the pair towards 1.5766(5 DMA)

• Strong support is seen at 1.5711 (Daily low ) and break below could take the pair towards 1.5658 (50%fib).

Recommendation: Good to sell on rally around 1.5740, with stop loss of 1.5780 and target price of 1.5680.
 

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