24 Oct 2013
EUR/AUD at 23.6% Fibo on 1.4340 zone
FXstreet.com (Chicago) - EUR/AUD sustains gains despite retracement from 1.44 front earlier today after the closing of Wall Street.
Euro-zone data
The euro has it more complicated with the Aussie, also strong lately. In the old continent, marking manufacturing PMI results were 52.3 vs. past 53.7 and expected 51.4. The Markit PMI composite was 51.5 vs. estimates at 52.5 while the Markit services PMI was 50.9 vs. prior 52.2 and expected 52.4.
EUR/AUD Technical Levels
Technically speaking, the pair maintains 2-week highs with primary trend converging with intraday trend, pointing down, contrary to secondary and short-term trends facing grounds. On 4HR charts, momentum gets lost with a pair at 23.6% Fibonacci level, 1.4345. On the downside, supports are aligned at 1.4296 (October 22nd highs), 1.4236 (October 17th highs) followed by 1.4177 (October 21st highs) and the resistances aligned at 1.4365 (October 10th highs), 1.4413 (October 8th highs) ahead of 1.4463 (October 4th highs).
Euro-zone data
The euro has it more complicated with the Aussie, also strong lately. In the old continent, marking manufacturing PMI results were 52.3 vs. past 53.7 and expected 51.4. The Markit PMI composite was 51.5 vs. estimates at 52.5 while the Markit services PMI was 50.9 vs. prior 52.2 and expected 52.4.
EUR/AUD Technical Levels
Technically speaking, the pair maintains 2-week highs with primary trend converging with intraday trend, pointing down, contrary to secondary and short-term trends facing grounds. On 4HR charts, momentum gets lost with a pair at 23.6% Fibonacci level, 1.4345. On the downside, supports are aligned at 1.4296 (October 22nd highs), 1.4236 (October 17th highs) followed by 1.4177 (October 21st highs) and the resistances aligned at 1.4365 (October 10th highs), 1.4413 (October 8th highs) ahead of 1.4463 (October 4th highs).