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

 •  EUR/AUD declined on Monday as Aussie outperformed euro as risk sentiment improved.

•  EUR/AUD dived below the 50% fib and trades down to a 1.7670 low.

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

•  On the upside, Immediate resistance is located at 1.7924 ( 50% fib), any close above will push the pair towards 1.8038 (9 DMA)

• On the downside, support is seen at 1.7665 (30 DMA ) and break below could take the pair towards 1.7509 (38.2% fib).

Recommendation: Recommendation: Good to sell on rally around 1.7900, with stop loss of 1.8300 and target price of 1.7100.