12 Feb 2015
EUR/AUD uptrend intact post German data
FXStreet (Mumbai) - The common currency remained elevated versus the Australian dollar in the European session, unperturbed by the bearish German inflation numbers.
Retreats from 1.4800 levels
Currently, the EUR/AUD cross trades at 1.4769 levels, gaining 0.54% on the day, having previously posted day’s high at 1.4803 levels. The shared currency continued its upsurge against the AUD, still riding higher on the back of disappointing OZ jobs data. The cross remained little affected by the downbeat German CPI data which confirmed that Germany sank in to deflation as consumer prices turned in to the negative territory.
Earlier in the day, Australian dollar lost footing against the single currency after Australia’s unemployment rate rose to a twelve year high and net jobs decelerated, pushing the cross to fresh weekly highs above 1.4800 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4803 levels, above which gains could be extended to 1.4820 levels. On the flip side, support is seen at 1.4700 levels, from here it to 1.4630 levels.
Retreats from 1.4800 levels
Currently, the EUR/AUD cross trades at 1.4769 levels, gaining 0.54% on the day, having previously posted day’s high at 1.4803 levels. The shared currency continued its upsurge against the AUD, still riding higher on the back of disappointing OZ jobs data. The cross remained little affected by the downbeat German CPI data which confirmed that Germany sank in to deflation as consumer prices turned in to the negative territory.
Earlier in the day, Australian dollar lost footing against the single currency after Australia’s unemployment rate rose to a twelve year high and net jobs decelerated, pushing the cross to fresh weekly highs above 1.4800 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4803 levels, above which gains could be extended to 1.4820 levels. On the flip side, support is seen at 1.4700 levels, from here it to 1.4630 levels.