14 Oct 2013
EUR/AUD suspended on island pattern after opening gap above 1.4360
FXstreet.com (Chicago) - EUR/AUD maintains opening gap performance above the 1.4360 zone despite failing to reach the 1.44 zone ahead of data.
Data due
Breaking the downward trendline marking lower highs and lows since last September 27th, the pair prepares for more Chinese data due at 1:30 GMT and European results from the Eurogroup meeting and industrial production performance.
EUR/AUD Technical Levels
Price action reveals heavy buying at opening on Aussie’s weakening due to weaker than expected Chinese exports data released earlier in the day. Ahead of more data from China coming in, the pair sustains opening gap performance above the 1.4360 zone. Offered at 1.4364, the pair oscillates between supports aligned at 1.4333 (October 4th lows), 1.4267 (October 9th lows) ahead of 1.4190 (September 17th lows) and the resistances set at 1.4410 (October 9th highs), 1.4475 (October 4th highs) followed by 1.4547 (October 2nd highs). On possible island pattern formation, the pair holds on to 1.4360 zone.
Data due
Breaking the downward trendline marking lower highs and lows since last September 27th, the pair prepares for more Chinese data due at 1:30 GMT and European results from the Eurogroup meeting and industrial production performance.
EUR/AUD Technical Levels
Price action reveals heavy buying at opening on Aussie’s weakening due to weaker than expected Chinese exports data released earlier in the day. Ahead of more data from China coming in, the pair sustains opening gap performance above the 1.4360 zone. Offered at 1.4364, the pair oscillates between supports aligned at 1.4333 (October 4th lows), 1.4267 (October 9th lows) ahead of 1.4190 (September 17th lows) and the resistances set at 1.4410 (October 9th highs), 1.4475 (October 4th highs) followed by 1.4547 (October 2nd highs). On possible island pattern formation, the pair holds on to 1.4360 zone.