23 Dec 2014
EUR/AUD: Bearish bias contained by sideways channel
FXStreet (Guatemala) - EUR/AUD is trading at 1.5035, having posted a daily high at 1.5124 and low at 1.4999.
EUR/AUD has been choppy within a 60-pip range along the south side of the 1.50 handle. The greenback has been in charge again and taken EUR/USD to a low of 1.2165 so far on the back of the wide spread demand. This has pressured the cross lower but at the same time, AUD/USD has slipped through the net again of the 0.81 handle charting a low of 0.8088 ahead of some major support levels.
EUR/AUD had broken out of the channels resistance scoring a high on 1.5120 before the sell off and lower levels can be found at 1.5038 (Daily Classic PP), 1.5036 (Daily Classic S1), 1.5033 (Daily Classic S2) and 1.5031 (Daily Classic S3) while first resistance comes at 1.5068 (Hourly 100 SMA) before 1.5120.
EUR/AUD has been choppy within a 60-pip range along the south side of the 1.50 handle. The greenback has been in charge again and taken EUR/USD to a low of 1.2165 so far on the back of the wide spread demand. This has pressured the cross lower but at the same time, AUD/USD has slipped through the net again of the 0.81 handle charting a low of 0.8088 ahead of some major support levels.
EUR/AUD had broken out of the channels resistance scoring a high on 1.5120 before the sell off and lower levels can be found at 1.5038 (Daily Classic PP), 1.5036 (Daily Classic S1), 1.5033 (Daily Classic S2) and 1.5031 (Daily Classic S3) while first resistance comes at 1.5068 (Hourly 100 SMA) before 1.5120.