12 Dec 2014
EUR/AUD trades below 1.5 handle
FXStreet (Mumbai) - The single currency trades lower against the Australian dollar after stronger than forecast China’s retail sales data buoyed the Aussie.
Currently, the EUR/AUD trades at 1.4982 levels, down -0.14%, compared to previous day’s close of 1.5003 levels. The Aussie found some support in better than market forecasts China retail sales which climbed 11.7% in November compared with the same month a year ago. The strong data cushioned concerns over slowing consumer demand in China, Australia’s top export destination.
The pair is likely to trade cautiously ahead of Euro zone’s industrial production data due to released later today.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.5015 (Dec 12 High) levels, above which gains could be extended to 1.5030 (May 2014) levels. On the flip side, support is seen at 1.4963 (50-day SMA), below which it could extend losses to 1.4919 (100-day SMA) levels.
Currently, the EUR/AUD trades at 1.4982 levels, down -0.14%, compared to previous day’s close of 1.5003 levels. The Aussie found some support in better than market forecasts China retail sales which climbed 11.7% in November compared with the same month a year ago. The strong data cushioned concerns over slowing consumer demand in China, Australia’s top export destination.
The pair is likely to trade cautiously ahead of Euro zone’s industrial production data due to released later today.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.5015 (Dec 12 High) levels, above which gains could be extended to 1.5030 (May 2014) levels. On the flip side, support is seen at 1.4963 (50-day SMA), below which it could extend losses to 1.4919 (100-day SMA) levels.