23 Jul 2013
EUR/AUD edges downwards towards session lows
FXstreet.com (New York) - The EUR/AUD technical cross has fallen lower Tuesday morning, having moved lower throughout the Asian session towards the 1.4250 region.
EUR/AUD technical bias
At the time of writing, the EUR/AUD cross has bled off its early gains, now operating negatively at 1.4242, down -0.07%. Briefing the technicals, the EUR/AUD is now suspended by support at 1.4241 (July 22 low), ahead of 1.4223 (July 19 low), and 1.4184 (July 17 low).
EUR/AUD strategic bias
According to the Chris Tedder at Forex.com, “After breaking through trend line support earlier this month, the EUR/AUD quickly retraced its steps. The move higher was on the back of a broad push towards the Euro after the Fed’s latest round of meeting minutes, where the bank was more dovish than the market was expecting. From a technical perspective, the pair has resumed its upward trend and is holding above key trend line support (see chart). However, a break here may see the pair spike lower once again, possibly towards a support zone around 1.3850.”
EUR/AUD technical bias
At the time of writing, the EUR/AUD cross has bled off its early gains, now operating negatively at 1.4242, down -0.07%. Briefing the technicals, the EUR/AUD is now suspended by support at 1.4241 (July 22 low), ahead of 1.4223 (July 19 low), and 1.4184 (July 17 low).
EUR/AUD strategic bias
According to the Chris Tedder at Forex.com, “After breaking through trend line support earlier this month, the EUR/AUD quickly retraced its steps. The move higher was on the back of a broad push towards the Euro after the Fed’s latest round of meeting minutes, where the bank was more dovish than the market was expecting. From a technical perspective, the pair has resumed its upward trend and is holding above key trend line support (see chart). However, a break here may see the pair spike lower once again, possibly towards a support zone around 1.3850.”