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FxWirePro: EUR/AUD attracts selling interest, vulnerable to more downside

• EUR/AUD declined on Wednesday  as Aussie outperformed euro as risk sentiment improved after  U.S. inflation data.

• EUR/AUD dived below the 38.2% fib and trades down to a 1.5484 low.

• Technical lean bearish, RSI is turning sharply lower, momentum studies, 9, 11 DMAs falling southwards. 

• Immediate resistance is located at 1.5552 ( 38.2% fib), any close above will push the pair towards 1.5656 (Higher BB)

• Strong  support is seen at 1.5478 (21 DMA ) and break below could take the pair towards 1.5391 (23.6% fib).

Recommendation: Good to sell on rally around 1.5500, with stop loss of 1.5580 and target price of 1.5400.
 

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