24 Sep 2013
EUR/AUD crashes ceiling on inconclusive consolidation above 1.4350
FXstreet.com (Chicago) - EUR/AUD stretched higher at the opening of Tokyo to print new highs at 1.4363 and retrace minimally to 1.4350 zone.
Price action revealed heavy buying as the Aussie was sold off across the board. The pair broke through immediate resistance, now support, at 1.4344 and attempts to consolidate above the 1.4350 zone. Offered at 1.4350, the pair oscillates between supports aligned at 1.4344 (September 19th highs), 1.4292 (September 17th highs) followed by 1.4232 (September 16th lows) and resistances set at 1.4417 (September 22nd highs), 1.4465 (September 20th highs) ahead of 1.4536. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and trades above the EMA20.
Price action revealed heavy buying as the Aussie was sold off across the board. The pair broke through immediate resistance, now support, at 1.4344 and attempts to consolidate above the 1.4350 zone. Offered at 1.4350, the pair oscillates between supports aligned at 1.4344 (September 19th highs), 1.4292 (September 17th highs) followed by 1.4232 (September 16th lows) and resistances set at 1.4417 (September 22nd highs), 1.4465 (September 20th highs) ahead of 1.4536. According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis and trades above the EMA20.