30 Oct 2013
EUR/AUD strives for 1.45 zone
FXstreet.com (Chicago) - EUR/AUD has been printing lower highs and lows despite sustaining earlier gains to trade around 3-week peaks.
Ahead of German unemployment data and economic performance results in the Euro-zone, the euro beats the Aussie on a quiet Asian session so far minutes away from Tokyo’s opening.
EUR/AUD Technical Levels
Technically speaking, the pair trades around 3-week highs after retracing from the 1.4530 zone on Aussie’s weakening. Price action evidences a clear reversal from last week that stalls but several spikes above the previously broken resistance indicate there is potential for further climbing. Offered at 1.4495, the pair oscillates between the supports aligned at 1.4454 (October 4th highs), 1.4414 (October 25th highs) ahead of 1.4362 (October 9th highs) and the resistances set at 1.4523 (September 29th highs), 1.4558 (September 26th highs) followed by 1.4624 (August 15th highs).
Ahead of German unemployment data and economic performance results in the Euro-zone, the euro beats the Aussie on a quiet Asian session so far minutes away from Tokyo’s opening.
EUR/AUD Technical Levels
Technically speaking, the pair trades around 3-week highs after retracing from the 1.4530 zone on Aussie’s weakening. Price action evidences a clear reversal from last week that stalls but several spikes above the previously broken resistance indicate there is potential for further climbing. Offered at 1.4495, the pair oscillates between the supports aligned at 1.4454 (October 4th highs), 1.4414 (October 25th highs) ahead of 1.4362 (October 9th highs) and the resistances set at 1.4523 (September 29th highs), 1.4558 (September 26th highs) followed by 1.4624 (August 15th highs).