• EUR/AUD declined on Tuesday as Australia's central bank hawkish statement boosted Australian dollar across the board.
•Australia's central bank raised its cash rate 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed.
• Selling pressure will remain in the short-term, only a move above 1.5579 level will shift the bias higher.
• A close below support at 1.5409 (38.2%fib) would give further momentum to bears, opening the way for a run towards 1.5350 level.
• Immediate resistance is located at 1.55571 (30DMA), any close above will push the pair towards 1.5579 (50%fib).
• Immediate support is seen at 1.5409 (38.2%fib) and break below could take the pair towards 1.5371 (Feb 1st low).
Recommendation: Good to sell round 1.5420, with stop loss of 1.5550 and target price of 1.5350
