15 Jan 2014
EUR/AUD rebounds strongly from 1.5030, rises above 1.5200
FXstreet.com (Córdoba) - After dropping 200 pips in the previous two trading days, the EUR/AUD soared on Tuesday climbing more than 150 pips and finished the day above 1.5200 amid a decline of the Aussie across the board.
On Monday the pair bottomed at 1.0528, the lowest price in almost five weeks and bounced to the upside, on what it seemed a normal correction after a decline of 300 pips. But on Tuesday, early in Asia the pair rose further and after a small pause, extended gains during the European and the American session, reaching a daily high at 1.5269.
Recently the pair hit at 1.5276 a new high but retreated afterwards to 1.5238 (daily low). Currently trades at 1.5261, flat for the day but pointing toward the highs.
Levels to watch for the EUR/AUD
Immediate resistance could be located at the 1.5270 area and above at 1.5310 and 1.5350 (last week highs). To the downside, the Euro might find support at 1.5210 and below at 1.5155 and 1.5110.
On Monday the pair bottomed at 1.0528, the lowest price in almost five weeks and bounced to the upside, on what it seemed a normal correction after a decline of 300 pips. But on Tuesday, early in Asia the pair rose further and after a small pause, extended gains during the European and the American session, reaching a daily high at 1.5269.
Recently the pair hit at 1.5276 a new high but retreated afterwards to 1.5238 (daily low). Currently trades at 1.5261, flat for the day but pointing toward the highs.
Levels to watch for the EUR/AUD
Immediate resistance could be located at the 1.5270 area and above at 1.5310 and 1.5350 (last week highs). To the downside, the Euro might find support at 1.5210 and below at 1.5155 and 1.5110.