24 Oct 2013
EUR/AUD zigzagging above 1.4310
FXstreet.com (Chicago) - EUR/AUD extends the sideways price action before the release of Australian data ahead of Tokyo’s opening.
Data ahead
Ahead of Australian data releases and after the release of the consumer confidence results in the Euro-zone at -14.5 vs. expected -14.4 and past -14.9, market participants push the pair higher.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4317 and oscillates between the supports aligned at 1.4270 (October 22nd highs), 1.4223 (October 18th highs) followed by 1.4176 (October 10th lows) and the resistances set at 1.4340 (October 23rd highs), 1.4372 (October 10th highs) ahead of 1.4412 (October 7th highs). Extending the bullish channel above an intact upward trendline from yesterday’s rally, the pair seems to be on corrective move after fall from session highs. According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.
Data ahead
Ahead of Australian data releases and after the release of the consumer confidence results in the Euro-zone at -14.5 vs. expected -14.4 and past -14.9, market participants push the pair higher.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4317 and oscillates between the supports aligned at 1.4270 (October 22nd highs), 1.4223 (October 18th highs) followed by 1.4176 (October 10th lows) and the resistances set at 1.4340 (October 23rd highs), 1.4372 (October 10th highs) ahead of 1.4412 (October 7th highs). Extending the bullish channel above an intact upward trendline from yesterday’s rally, the pair seems to be on corrective move after fall from session highs. According to the FXstreet.com trend index, the pair is strongly bullish on one-hour timeframe analysis above the EMA20.