9 Jan 2014
EUR/AUD rises to test weekly highs
FXstreet.com (Córdoba) - The EUR/AUD gained momentum early in Asia and rose to 1.5309, reaching weekly highs. On Wednesday the pair bottomed at 1.5197 during the American session but bounced to the upside trimming losses and finished around 1.5240.
Recently Australian economic data sent the pair to 1.5224 (daily low) but it rebounded quickly as the AUD weakened across the board following Chinese CPI data and rose to test 1.5310. Also the Aussie suffered across the board after the AUD/USD broke below 0.8880.
Levels to watch for the EUR/AUD
To the downside support levels could be located at 1.5225 (daily low and short-term rising trend line ), 1.5195 (January 8th low) and 1.5160. Immediate resistance comes at weekly highs at 1.5310 and above at 1.5340 and 1.5365.
Recently Australian economic data sent the pair to 1.5224 (daily low) but it rebounded quickly as the AUD weakened across the board following Chinese CPI data and rose to test 1.5310. Also the Aussie suffered across the board after the AUD/USD broke below 0.8880.
Levels to watch for the EUR/AUD
To the downside support levels could be located at 1.5225 (daily low and short-term rising trend line ), 1.5195 (January 8th low) and 1.5160. Immediate resistance comes at weekly highs at 1.5310 and above at 1.5340 and 1.5365.