13 Sep 2013
EUR/AUD reverses path and jumps above 1.4350 again
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at fresh session highs 1.4373 off recent session lows at 1.4326 reversing course as Aussie is selling off to session lows below the 0.9250 USD and Euro stalls its fall against USD.
EUR/AUD suggesting a base is in place if closing above 1.4388
According to IFRMarkets analyst Andrew Spencer the cross would need a close above 1.4388, its 10 day moving average, in order to “suggest a 1.4230 base in place,” Spencer said. EUR/AUD has been mostly range bound all week long, last about flat so far for the week, making a quick recovery from yesterday's weekly lows at 1.4231 following much worse than expected Aussie jobs data.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at Sept 04/05 lows 1.4353/46, followed by recent session lows at 1.4327, and Wednesday's highs/Monday's lows at 1.4303/1.4292. To the upside, closest resistance shows at Monday's highs 1.4388, followed by yesterday's weekly highs at 1.4406, and Sept 05 highs at 1.4470.
EUR/AUD suggesting a base is in place if closing above 1.4388
According to IFRMarkets analyst Andrew Spencer the cross would need a close above 1.4388, its 10 day moving average, in order to “suggest a 1.4230 base in place,” Spencer said. EUR/AUD has been mostly range bound all week long, last about flat so far for the week, making a quick recovery from yesterday's weekly lows at 1.4231 following much worse than expected Aussie jobs data.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at Sept 04/05 lows 1.4353/46, followed by recent session lows at 1.4327, and Wednesday's highs/Monday's lows at 1.4303/1.4292. To the upside, closest resistance shows at Monday's highs 1.4388, followed by yesterday's weekly highs at 1.4406, and Sept 05 highs at 1.4470.