22 Nov 2013
EUR/AUD caps at 11-week peaks
FXstreet.com (Chicago) - EUR/AUD sustains 11-week highs ahead of the Asian opening after a journey where mixed manufacturing results were evidenced in Europe and the RBA’s Stevens lingered in the psyches of market participants.
Price action reveals a pair that reaches 11-week highs and prints higher highs and lows sustaining earlier performance on the Aussie’s weakening. Earlier in Europe, consumer confidence results were made public at -15.4 vs. prior -14.5 and expected -14. Markit manufacturing results revealed disappointing results that failed to meet expectations although Draghi’s speech catalyzed price variations.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4595 and oscillates between the supports aligned at 1.4568 (September 27th highs), 1.4528 (October 28th highs) ahead of 1.4474 (November 14th highs) and the resistances set at 1.4618 (session highs), 1.4656 (August 30th lows) followed by 1.4748 (August 23rd lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish on one-hour timeframe analysis and navigates above the EMA20.
Price action reveals a pair that reaches 11-week highs and prints higher highs and lows sustaining earlier performance on the Aussie’s weakening. Earlier in Europe, consumer confidence results were made public at -15.4 vs. prior -14.5 and expected -14. Markit manufacturing results revealed disappointing results that failed to meet expectations although Draghi’s speech catalyzed price variations.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4595 and oscillates between the supports aligned at 1.4568 (September 27th highs), 1.4528 (October 28th highs) ahead of 1.4474 (November 14th highs) and the resistances set at 1.4618 (session highs), 1.4656 (August 30th lows) followed by 1.4748 (August 23rd lows). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish on one-hour timeframe analysis and navigates above the EMA20.