25 Sep 2013
EUR/AUD tastes the dust at 1.4342 on relentless 1.4350 front battle
FXstreet.com (Chicago) - EUR/AUD succumbs to bearish pressure and gives in 1.4350 zone. Struggling to maintain the zone the pair moves up and down reiteratively after Tokyo’s opening.
The RBA said it sees a banking system in strong shape with liquidity to cover needs. No reaction seems to affect the pair.
EUR/AUD Technical Levels
Price action reveals lower highs and parallel price action after Tokyo’s opening. The pair trends higher on short-term despite primary and secondary trends pointing down. Offered at 1.4354, the pair navigates 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 (September 3rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe and remains above the EMA20.
The RBA said it sees a banking system in strong shape with liquidity to cover needs. No reaction seems to affect the pair.
EUR/AUD Technical Levels
Price action reveals lower highs and parallel price action after Tokyo’s opening. The pair trends higher on short-term despite primary and secondary trends pointing down. Offered at 1.4354, the pair navigates 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 (September 3rd highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe and remains above the EMA20.