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• EUR/AUD declined on Tuesday as global worries about geopolitical tensions and economic uncertainty weighed on euro.
• Investors remain uneasy about the Fed and other central banks' ability to fight inflation without triggering financial instability and recession.
• EUR/AUD was down 0.04% at 1.4920 and in danger of eventually skidding down to 1.4800 level.
• Immediate resistance is located at 1.4960 ( 5DMA), any close above will push the pair towards 1.5070(50% fib)
• Support is seen at 1.4967 (38.2% fib) and break below could take the pair towards 1.4624 (23.6%fib).
Recommendation: Good to sell around 1.4930, with stop loss of 1.5100 and target price of 1.4850.
