21 Mar 2014
EUR/AUD approaches March lows
FXStreet (Córdoba) - The EUR/AUD ended lower on Thursday hovering around 1.5250 and managed to hold above March lows. After peaking during yesterday's Asian session at 1.5357, bounced to the downside bottoming on American hours at 1.5220. From there rebounded and finished around 1.5250, posting the second lowest close of March. Early in Asia remains steady trading around 1.5245.
The Euro is trading barely above March lows against the Australian dollar and continues to face short-term bearish pressure, that could escalate if price falls below 1.5200.
On a weekly basis ,the EUR/AUD is headed toward a weekly loss but continues to move sideways as it has been since late January, after being unable to break above 1.5500; while the downside was limited by 1.5000.
The Euro is trading barely above March lows against the Australian dollar and continues to face short-term bearish pressure, that could escalate if price falls below 1.5200.
On a weekly basis ,the EUR/AUD is headed toward a weekly loss but continues to move sideways as it has been since late January, after being unable to break above 1.5500; while the downside was limited by 1.5000.