30 Jul 2013
EUR/AUD testing fresh 3-year highs above 1.4475
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at 1.4475 off recent session/weekly and fresh 3-year highs at 1.4479, printed on the back of Aussie weakness following worst Australian building permits data of 2013 at -6.9% for the month of June.
EUR/AUD at fresh 3-year highs
Few hours ahead of RBA Stevens speech at 03:05 GMT, the EUR/AUD is already about +1% higher for the week, mostly on Aussie weakness. Current levels are the highest the cross has seen since early August 2010. The cross is up +14.03% year to date, all done in last 3 months since early May when the Aussie started the decline from above the 1.02 area.
EUR/AUD key technical levels
Immediate resistance to the upside for EUR/AUD shows at recent session/weekly/3-year highs at 1.4479, followed by August 2010 highs at 1.4540, and late March 2010 lows at 1.4570. To the downside, closest support lies at July 03 highs 1.4401, followed by Friday's highs at 1.4379, and yesterday's weekly lows at 1.4310.
EUR/AUD at fresh 3-year highs
Few hours ahead of RBA Stevens speech at 03:05 GMT, the EUR/AUD is already about +1% higher for the week, mostly on Aussie weakness. Current levels are the highest the cross has seen since early August 2010. The cross is up +14.03% year to date, all done in last 3 months since early May when the Aussie started the decline from above the 1.02 area.
EUR/AUD key technical levels
Immediate resistance to the upside for EUR/AUD shows at recent session/weekly/3-year highs at 1.4479, followed by August 2010 highs at 1.4540, and late March 2010 lows at 1.4570. To the downside, closest support lies at July 03 highs 1.4401, followed by Friday's highs at 1.4379, and yesterday's weekly lows at 1.4310.