11 Dec 2013
EUR/AUD drifting lower to form the cup and handle?
FXstreet.com (London) - EUR/AUD has risen from the 1.5020 supporting line but has met resistance and the handle of the cup is starting to form a convincing bullish signal.
Strategist at TD Securities said “the EUR bid tone reflects some ongoing tightness in the EUR funding markets as well as the seasonal trend towards year-end gains we have highlighted before. Further strength looks likely into the end of the month but we think 1.38+ levels will be unsustainable considering Europe/US fundamental trends”. For Australia, data wise, tomorrow’s consumer sentiment is worth a quick glance (last 110.3) according to research teams at TD Securities. Commerzbank startegists said, “we target the 0.8848 August low and 0.8745, the base of a 2 year down channel”.
EUR/AUD Levels
EUR/AUD is currently trading at 1.5050 with a high on Asia of 1.5062 and a low of 1.5026. The pair is trading just sub of the Camiarilla pivot at 1.5075 with MA’s offering a bullish bias until 1.5077 and the SMA 100.
Strategist at TD Securities said “the EUR bid tone reflects some ongoing tightness in the EUR funding markets as well as the seasonal trend towards year-end gains we have highlighted before. Further strength looks likely into the end of the month but we think 1.38+ levels will be unsustainable considering Europe/US fundamental trends”. For Australia, data wise, tomorrow’s consumer sentiment is worth a quick glance (last 110.3) according to research teams at TD Securities. Commerzbank startegists said, “we target the 0.8848 August low and 0.8745, the base of a 2 year down channel”.
EUR/AUD Levels
EUR/AUD is currently trading at 1.5050 with a high on Asia of 1.5062 and a low of 1.5026. The pair is trading just sub of the Camiarilla pivot at 1.5075 with MA’s offering a bullish bias until 1.5077 and the SMA 100.