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FxWirePro: EUR/AUD slips lower after RBA minutes retain hawkish bias

• EUR/AUD declined on Tuesday  as Australian dollar moved higher against euro after RBA minutes retained a hawkish tone.

• Minutes from the central bank's Nov. 7 meeting showed deep concern over shifting inflation expectations, warning that rising prices could remain a challenge over the next 1-2 years.

• The pair dropped to test 1.5433(38.2% fib). A break under  would unmask 1.6550  level .

• Technical lean bearish, RSI is trending lower at 49 , momentum studies, 9, 11 DMAs falling southwards. 

• Immediate resistance is located at 1.6701 ( 5DMA), any close above will push the pair towards 1.6723 (50% fib)

• Support is seen at 1.6632(38.2% fib) and break below could take the pair towards 1.6560 (Oct 25th low).

 Recommendation: Good to sell   around 1.6650, with stop loss of 1.6750 and target price of 1.6580
 

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