25 Sep 2013
EUR/AUD consolidates 1.4350 reversal with turtle steps
FXstreet.com (Chicago) - EUR/AUD registers higher highs and lows prior to Tokyo’s opening, extending the upward trendline manifested last September 18th.
Ahead of Australian data with little impact for the pair, market participants hold on to the euro despite mixed results in the Euro-zone published on Monday. Perhaps Merkel’s victory is indicative of the continuation of German’s strong economy despite latest mixed IFO results.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4351 and oscillates between supports aligned at 1.4344 (September 19th highs), 1.4292 (September 17th highs) followed by 1.4232 (September 16th lows) and resistances set at 1.4417 (September 22nd highs), 1.4465 (September 20th highs) ahead of 1.4536 (September 3rd highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis and indicates the pair flows above the EMA20.
Ahead of Australian data with little impact for the pair, market participants hold on to the euro despite mixed results in the Euro-zone published on Monday. Perhaps Merkel’s victory is indicative of the continuation of German’s strong economy despite latest mixed IFO results.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4351 and oscillates between supports aligned at 1.4344 (September 19th highs), 1.4292 (September 17th highs) followed by 1.4232 (September 16th lows) and resistances set at 1.4417 (September 22nd highs), 1.4465 (September 20th highs) ahead of 1.4536 (September 3rd highs). The FXstreet.com trend index reports the pair as slightly bullish on one-hour timeframe analysis and indicates the pair flows above the EMA20.