9 Dec 2014
EUR/AUD rallies, trades at 7-month high
FXStreet (Mumbai) - The single currency rose higher against the Australian dollar after the Aussie fell to fresh 4-1/2 yr lows against the greenback.
Currently, the EUR/AUD trades at 1.4954 levels, 0.72% stronger as compared to previous day’s close at 1.4851. The Aussie fell to 4-1/2 year low after NAB’s business confidence index slid in November, which knocked down the AUD/USD pair to trade at 0.8238 levels.
All eyes are on Germany numbers and ECB’s Nowotny’s speech for any further direction on the Euro.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.5011 (May 2014 High) levels, above which gains could be extended to 1.5028 (Nov 2013 High) levels. On the flip side, support is seen at 1.4931 (5-day SMA), below which it could extend losses to 1.4892 (10-day SMA) levels.
Currently, the EUR/AUD trades at 1.4954 levels, 0.72% stronger as compared to previous day’s close at 1.4851. The Aussie fell to 4-1/2 year low after NAB’s business confidence index slid in November, which knocked down the AUD/USD pair to trade at 0.8238 levels.
All eyes are on Germany numbers and ECB’s Nowotny’s speech for any further direction on the Euro.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.5011 (May 2014 High) levels, above which gains could be extended to 1.5028 (Nov 2013 High) levels. On the flip side, support is seen at 1.4931 (5-day SMA), below which it could extend losses to 1.4892 (10-day SMA) levels.