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FxWirePro:EUR/AUD neutral in the near-term, scope for downward resumption

• EUR/AUD initially declined to hit daily low at 1.5266 on Thursday but reversed some downside moves as investors reacted  to the Federal Reserve’s policy statement a day earlier.

• Breaks of key supports still appear likely according to signals generated  by technical, a move towards 1.5200 now looks viable.

• Technical lean bearish as RSI is heading down  at 38, daily momentum studies 9, 10 and 11 DMAs are trending down. 

• Immediate resistance is located at 1.5365 ( 5DMA), any close above will push the pair towards 1.5475 (38.2%fib)

• Support is seen at 1.5259(23.6%fib ) and break below could take the pair towards 1.5211(Lower BB).

Recommendation: Good to sell on rally around 1.5360 with stop loss of 1.5475 and target price of 1.5200.
 

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