29 Jan 2015
EUR/AUD climbs 1.5% on Aussie weakness, trades above 1.4500
FXStreet (Mumbai) - The single currency soared against the Australian dollar, reversing losses from the previous session mainly due to slump in the Aussie to fresh multi-year lows, breaking below 0.78 threshold.
EUR/AUD posts fresh 2-week highs
Currently, the EUR/AUD cross trades 1.4527 levels, recording a 1.49% gain on the day, close to fresh two week highs posted 1.4557 some minutes ago. EUR/AUD extended gains largely as the Aussie tumbled to fresh five and a half year lows at 0.7776 levels.
The Australian dollar continues to weaken versus the Euro on growing speculation that the RBA will soon begin to ease monetary policy. Moreover, falling industrial metals and bullion prices added to the losses in the AUD against the Euro.
AS of writing, AUD/USD fell by -1.22% to 0.7790 levels, while EUR/USD stood higher by 0.17% at 1.1309 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4568 levels, above which gains could be extended to 1.4620 levels. On the flip side, support is seen at 1.4400 levels, from here it to 1.4360 levels.
EUR/AUD posts fresh 2-week highs
Currently, the EUR/AUD cross trades 1.4527 levels, recording a 1.49% gain on the day, close to fresh two week highs posted 1.4557 some minutes ago. EUR/AUD extended gains largely as the Aussie tumbled to fresh five and a half year lows at 0.7776 levels.
The Australian dollar continues to weaken versus the Euro on growing speculation that the RBA will soon begin to ease monetary policy. Moreover, falling industrial metals and bullion prices added to the losses in the AUD against the Euro.
AS of writing, AUD/USD fell by -1.22% to 0.7790 levels, while EUR/USD stood higher by 0.17% at 1.1309 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4568 levels, above which gains could be extended to 1.4620 levels. On the flip side, support is seen at 1.4400 levels, from here it to 1.4360 levels.