29 Apr 2014
EUR/AUD supply meets demand post Draghi 's comments earlier
FXStreet (Guatemala) - EUR/AUD is trading at 1.4952, down -0.02% on the day, having posted a daily high at 1.4969 and low at 1.4956.
EUR/AUD met supply at the top of a rally sparked by the markets jumping to conclusions based upon Draghi’s recent comments and take advantage of an already weak AUD environment. Draghi’s remarks to German MP’s. suggested that the ECB will not be moving towards a QE regime any time soon. So, again, “the one size doesn’t fit all” scenario offers complications for the ECB.
EUR/AUD daily chart
Looking to a daily chart, we see that RSI is neutral at 51.32. The 200 SMA is currently at 1.4925, up from 1.4839 at the last period close, and climbing on the hourly EUR/AUD chart. Moving in an upward trend, the exponential average closing price is 1.4863.
EUR/AUD Levels
With spot trading at 1.4958, we can see next resistance ahead at 1.4965 (Daily Open), 1.4969 (Daily High), 1.4981 (Daily Classic R2), 1.4988 (Yesterday's High) and 1.5005 (Weekly Classic R1). Support below can be found at 1.4956 (Daily Low), 1.4949 (Daily Classic R1), 1.4943 (Hourly 20 EMA), 1.4931 (Monthly High) and 1.4931 (Weekly High).
EUR/AUD met supply at the top of a rally sparked by the markets jumping to conclusions based upon Draghi’s recent comments and take advantage of an already weak AUD environment. Draghi’s remarks to German MP’s. suggested that the ECB will not be moving towards a QE regime any time soon. So, again, “the one size doesn’t fit all” scenario offers complications for the ECB.
EUR/AUD daily chart
Looking to a daily chart, we see that RSI is neutral at 51.32. The 200 SMA is currently at 1.4925, up from 1.4839 at the last period close, and climbing on the hourly EUR/AUD chart. Moving in an upward trend, the exponential average closing price is 1.4863.
EUR/AUD Levels
With spot trading at 1.4958, we can see next resistance ahead at 1.4965 (Daily Open), 1.4969 (Daily High), 1.4981 (Daily Classic R2), 1.4988 (Yesterday's High) and 1.5005 (Weekly Classic R1). Support below can be found at 1.4956 (Daily Low), 1.4949 (Daily Classic R1), 1.4943 (Hourly 20 EMA), 1.4931 (Monthly High) and 1.4931 (Weekly High).