31 Jan 2014
EUR/AUD is vulnerable ahead of Eurozone CPI
FXstreet.com (Moscow) - EUR/AUD touched the intraday low at 1.5358, but the move was not sustained as the cross returned in the range above 1.5400.
EUR/AUD is waiting for what the Eurozone CPI has in store for it
AUD managed to restore some ground across the board as the Australia published better than expected private credit growth data. The risk-aversive sentiments subsided, allowing the Aussie to correct higher after a protracted decline. On the intraday basis, EUR/AUD may extend losses if the cross breaks below 1.5400. Eurozone CPI data is the significant risk factor today as the lower than expected inflation numbers will push EUR down across the board. Though do not let this upside move to get you carried away. In the long run the EUR/AUD trend is still bullish (and the Aussie is bearish). Watch out for the above mentioned support of 1.5400. Once broken, the cross will move down to 1.5358 and then to 1.5310. The upside is likely to be constrained by 15440-50 zone.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5504, with the support at 1.5334, 1.5245 and 1.5075, with resistance above at 1.55593, 1.5763 and 1.5852. Hourly Moving Averages are bearish, with the 200SMA at 1.5519 and the daily 20EMA at 1.5435. Hourly RSI is neutral at 34.
EUR/AUD is waiting for what the Eurozone CPI has in store for it
AUD managed to restore some ground across the board as the Australia published better than expected private credit growth data. The risk-aversive sentiments subsided, allowing the Aussie to correct higher after a protracted decline. On the intraday basis, EUR/AUD may extend losses if the cross breaks below 1.5400. Eurozone CPI data is the significant risk factor today as the lower than expected inflation numbers will push EUR down across the board. Though do not let this upside move to get you carried away. In the long run the EUR/AUD trend is still bullish (and the Aussie is bearish). Watch out for the above mentioned support of 1.5400. Once broken, the cross will move down to 1.5358 and then to 1.5310. The upside is likely to be constrained by 15440-50 zone.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5504, with the support at 1.5334, 1.5245 and 1.5075, with resistance above at 1.55593, 1.5763 and 1.5852. Hourly Moving Averages are bearish, with the 200SMA at 1.5519 and the daily 20EMA at 1.5435. Hourly RSI is neutral at 34.