16 Oct 2013
EUR/AUD whipsaws highs at 1.4244
FXstreet.com (Chicago) - EUR/AUD displays high volatility on recently published Australian data.
Recent Australian data shows Westpac leading index results at -0.1% vs. past 0.4%. High volatility is perceived in price action with two consecutive visits to the 1.4230 zones and whipsaws sticking the pair to immediate support.
EUR/AUD Technical Levels
Technically speaking, the pair breaks through previously violated support above the 1.42 zone extending the short-term bullish channel that started yesterday. After reaching 1.4244, the pair deflates below the 1.42 zone. Offered at 1.4197, the pair oscillates between supports aligned at 1.4190 (October 9th lows), 1.4080 (October 4th lows), 1.4010 (October 8th highs) and above the immediate resistance at 1.4267 (September 18th lows), 1.4331 (July 10th lows), 1.4410 (July 1st lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Recent Australian data shows Westpac leading index results at -0.1% vs. past 0.4%. High volatility is perceived in price action with two consecutive visits to the 1.4230 zones and whipsaws sticking the pair to immediate support.
EUR/AUD Technical Levels
Technically speaking, the pair breaks through previously violated support above the 1.42 zone extending the short-term bullish channel that started yesterday. After reaching 1.4244, the pair deflates below the 1.42 zone. Offered at 1.4197, the pair oscillates between supports aligned at 1.4190 (October 9th lows), 1.4080 (October 4th lows), 1.4010 (October 8th highs) and above the immediate resistance at 1.4267 (September 18th lows), 1.4331 (July 10th lows), 1.4410 (July 1st lows). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.