27 Jan 2015
EUR/AUD rallies after German Fin Min Schaeuble’s comments
FXStreet (Mumbai) - The single currency pierced through the Australian dollar during the European session after German Finance Minister Wolfgang Schaeuble comments stated that there are no chances of debt reduction for Greece.
Currently, the EUR/AUD cross rallied 0.47% at 1.4247 levels, quickly retracing from fresh daily highs posted at 1.4257 immediately post the comments. The EUR/AUD advanced after Schaeuble comments cushioned the concerns surrounding Greece’s exit from the Euro Area, boosting the Euro to record fresh daily highs versus the US dollar.
Meanwhile, markets now turn their attention towards a host of crucial economic releases later this week, including Australian CPI print and US FOMC statement on Wednesday, for further moves on the cross.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4260 levels, above which gains could be extended to 1.4297 levels. On the flip side, support is seen at 1.4200 levels, from here it to 1.4187 (5-DMA) levels.
Currently, the EUR/AUD cross rallied 0.47% at 1.4247 levels, quickly retracing from fresh daily highs posted at 1.4257 immediately post the comments. The EUR/AUD advanced after Schaeuble comments cushioned the concerns surrounding Greece’s exit from the Euro Area, boosting the Euro to record fresh daily highs versus the US dollar.
Meanwhile, markets now turn their attention towards a host of crucial economic releases later this week, including Australian CPI print and US FOMC statement on Wednesday, for further moves on the cross.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4260 levels, above which gains could be extended to 1.4297 levels. On the flip side, support is seen at 1.4200 levels, from here it to 1.4187 (5-DMA) levels.