26 Sep 2013
EUR/AUD still capped at 1.4450, triple-top
FXstreet.com (Chicago) - EUR/AUD prints higher highs and lows but remains capped below the 1.4450 ceiling (triple top with August 22nd highs and September 4th highs).
Euro holds on
Europe’s results released earlier today were mixed with France’s business climate failing to meet expected 99 projections to settle for 97. In the contrary, theGfk consumer confidence in Germany was 7.1 vs. past and estimates at 7. Europe closed with mixed results with the CAC 40 down 0.01% and the DAX higher 0.01%.
EUR/AUD Technical Levels
Price action reveals a primary trend pointing down but a secondary trend aiming higher. On short-term analysis, the pair extends the upward trendline originated last September 18th despite bumpy ride. A reversed head and shoulders pattern may be in formation if prices continue trading higher. Offered at 1.4431, the pair oscillates between supports aligned at 1.4417 (September 4th highs), 1.4344 (September 16th highs) followed by 1.4292 (September 17th highs) and the resistances set at 1.4465 (September 5th highs), 1.4536 (August 14th highs) ahead of 1.46 (August 13th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.
Euro holds on
Europe’s results released earlier today were mixed with France’s business climate failing to meet expected 99 projections to settle for 97. In the contrary, theGfk consumer confidence in Germany was 7.1 vs. past and estimates at 7. Europe closed with mixed results with the CAC 40 down 0.01% and the DAX higher 0.01%.
EUR/AUD Technical Levels
Price action reveals a primary trend pointing down but a secondary trend aiming higher. On short-term analysis, the pair extends the upward trendline originated last September 18th despite bumpy ride. A reversed head and shoulders pattern may be in formation if prices continue trading higher. Offered at 1.4431, the pair oscillates between supports aligned at 1.4417 (September 4th highs), 1.4344 (September 16th highs) followed by 1.4292 (September 17th highs) and the resistances set at 1.4465 (September 5th highs), 1.4536 (August 14th highs) ahead of 1.46 (August 13th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and remains above the EMA20.