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

• EUR/AUD declined on Monday   as equity , copper gains & USD/CNH drop buoyed  Australian dollaracross the board.

• Investors will likely focus on the RBA Meeting Minutes and RBA Governor Bullock's speech on Tuesday for clue on Australian monetary policy .

• The pair dropped to test 38.2% fib support. A break under  would unmask 1.6600 level .

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

• Immediate resistance is located at 1.6732 ( Nov 1st high), any close above will push the pair towards 1.6754(50% fib)

• Support is seen at 1.6663(38.2% fib) and break below could take the pair towards 1.6616 (50DMA).

  Recommendation: Good to sell   around 1.6690, with stop loss of 1.6780 and target price of 1.6600.