10 Oct 2013
EUR/AUD on neutral EMA20 at 32.8% Fibo level
FXstreet.com (Chicago) - EUR/AUD finds grounds after retracing from 1.4320 zone ahead of Draghi’s speech and Australian labor market data.
Earlier European data releases demonstrated slight improvements in results with industrial production facts in Germany, CPIs in Greece and disappointing trade balance results in Portugal.
EUR/AUD Technical Levels
Ahead of Draghi’s speech and Australian job market data, the pair extends the intraday upward trendline and flows around 38.2% Fibonacci retracement. Offered at 1.4310, the pair navigates between supports aligned at 1.4273 (session lows), 1.4223 (September 13th lows), 1.4166 (July 16th lows) and the resistances set at 1.4349 (October 1st lows), 1.4397 (September 24th highs) followed by 1.4456 (October 7th highs). On longer-term analysis, the pair may oscillate on second shoulder of H&S pattern with peaks around the end of August. Extending the downward trendline that started last week, the pair prints lower lows and highs ahead of Tokyo trading with a neutral EMA20.
Earlier European data releases demonstrated slight improvements in results with industrial production facts in Germany, CPIs in Greece and disappointing trade balance results in Portugal.
EUR/AUD Technical Levels
Ahead of Draghi’s speech and Australian job market data, the pair extends the intraday upward trendline and flows around 38.2% Fibonacci retracement. Offered at 1.4310, the pair navigates between supports aligned at 1.4273 (session lows), 1.4223 (September 13th lows), 1.4166 (July 16th lows) and the resistances set at 1.4349 (October 1st lows), 1.4397 (September 24th highs) followed by 1.4456 (October 7th highs). On longer-term analysis, the pair may oscillate on second shoulder of H&S pattern with peaks around the end of August. Extending the downward trendline that started last week, the pair prints lower lows and highs ahead of Tokyo trading with a neutral EMA20.