24 Oct 2013
EUR/AUD resilient to give in 1.43 front
FXstreet.com (Chicago) - EUR/AUD lost the 1.43 zone momentarily before bouncing back up above it on attempt to sustain gains ahead of Tokyo.
With a stronger euro, some say a monetary policy may be on its way with increasing talking within the next few weeks. In Australia, the RBA annual report is expected along the bank’s deputy governor speech.
EUR/AUD Technical Levels
Technically speaking, price action evidences a strong retracement consolidating with the extension of a downward movement throughout Wednesday. Bouncing off from 1.4297 session lows, the pair pulls off a comeback above the 1.43 front. Offered at 1.4304, it oscillates between the supports aligned at 1.4270 (October 11th lows), 1.4223 (October 18th highs) followed by 1.4176 (October 20th highs) and the resistances set at 1.4340 (October 23rd highs), 1.4372 (October 10th highs) ahead of 1.4412 (October 8th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis still above the EMA20.
With a stronger euro, some say a monetary policy may be on its way with increasing talking within the next few weeks. In Australia, the RBA annual report is expected along the bank’s deputy governor speech.
EUR/AUD Technical Levels
Technically speaking, price action evidences a strong retracement consolidating with the extension of a downward movement throughout Wednesday. Bouncing off from 1.4297 session lows, the pair pulls off a comeback above the 1.43 front. Offered at 1.4304, it oscillates between the supports aligned at 1.4270 (October 11th lows), 1.4223 (October 18th highs) followed by 1.4176 (October 20th highs) and the resistances set at 1.4340 (October 23rd highs), 1.4372 (October 10th highs) ahead of 1.4412 (October 8th highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis still above the EMA20.