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

• EUR/AUD  initially gained on Thursday but gave up ground after finding resistance 1.6361(23.6%fib).

• A inverted hammer candle so far Thursday bodes well for short plays.

• From a technical viewpoint, RSI  is  flat  at 48, daily momentum studies, 5,  and 9 daily  trending up.

• Immediate resistance is located at 1.6278(11DMA), any close above will push the pair towards 1.6361 (23.6%fib).

• Immediate support is seen at 1.6253(9DMA) and break below could take the pair towards 1.6159 (38.2%fib).

Recommendation: Good sell  around 1.6275, with stop loss of 1.6350 and target price of 1.6200