25 Mar 2014
EUR/AUD bears have big plans
FXStreet (Moscow) - EUR/AUD is under selling pressure early on Tuesday as the cross opened the day at 1.5155 and moved all the way down to the current low of 1.5106.
EUR/AUD is looking to the South
EUR/AUD experienced a good deal of volatility on Monday. The intraday range of the cross exceeded 200 pips, but the cross ended the day close to its opening level as the single currency managed to recover after a deep fall during the European session caused by disappointing flash PMI data. In Asia EUR/AUD resumed the downside movement due to strong demand in AUD/USD. The cross has passed the technically important neckline of head-and shoulder pattern at 1.5130. The daily close firmly below this level may parker the technical picture as it will mean that the bears are gaining strength. The European session will bring another bunch of EZ macro statistics, where German business confidence from IFO is of great importance. Analysts are waiting for a slight decline from 111.3 (July 2011 high) to 110.9, thought the worse than expected readings may weaken EUR across the board. The key technical level is 1.5130, it is followed by the support of 1.5100 and 1.5045. On the upper side the resistance is seen at 1.5163 (Asian high) and 1.5200.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5201, with the support at 1.5145, 1.5102 and 1.5046, with resistance above at 1.5244, 1.5300 and 1.5344. Hourly Moving Averages are mixed, with the 200SMA at 1.5331 and the daily 20EMA at 1.5306. Hourly RSI is neutral at 52.
EUR/AUD is looking to the South
EUR/AUD experienced a good deal of volatility on Monday. The intraday range of the cross exceeded 200 pips, but the cross ended the day close to its opening level as the single currency managed to recover after a deep fall during the European session caused by disappointing flash PMI data. In Asia EUR/AUD resumed the downside movement due to strong demand in AUD/USD. The cross has passed the technically important neckline of head-and shoulder pattern at 1.5130. The daily close firmly below this level may parker the technical picture as it will mean that the bears are gaining strength. The European session will bring another bunch of EZ macro statistics, where German business confidence from IFO is of great importance. Analysts are waiting for a slight decline from 111.3 (July 2011 high) to 110.9, thought the worse than expected readings may weaken EUR across the board. The key technical level is 1.5130, it is followed by the support of 1.5100 and 1.5045. On the upper side the resistance is seen at 1.5163 (Asian high) and 1.5200.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5201, with the support at 1.5145, 1.5102 and 1.5046, with resistance above at 1.5244, 1.5300 and 1.5344. Hourly Moving Averages are mixed, with the 200SMA at 1.5331 and the daily 20EMA at 1.5306. Hourly RSI is neutral at 52.