17 Jun 2014
EUR/AUD bottoming?
FXStreet (Guatemala) - EUR/AUD is trading at 1.4458, up 0.15% on the day, having posted a daily high at 1.4468 and low at 1.4434.
EUR/AUD has been building up bids at the bottom of Junes down wave and threatens a relief rally ahead of RBA minutes if it can take out last Wednesdays high at 1.4480 targeting 1.4550. Meanwhile, Sean Callow, analyst at Westpac Banking Corporation ABN explained the AUD should continue to trend higher against EUR. “We expect ECB president Draghi to meet, perhaps beat expectations for easing on 5 June and not rule out further action if needed. AUD meanwhile probably has a sufficiently gloomy outlook priced in, with domestic data overdue for at least some recovery and momentum in China and thus key commodities stable to a touch firmer near term”.
EUR/AUD Levels
Current price is 1.4459, with resistance ahead at 1.4462 (Weekly Classic PP), 1.4467 (Yesterday's High), 1.4468 (Daily High), 1.4505 (Hourly 200 SMA) and 1.4506 (Daily Classic R2). Next support to the downside can be found at 1.4455 (Daily Classic R1), 1.4438 (Daily Open), 1.4434 (Daily Low), 1.4433 (Hourly 20 EMA) and 1.4416 (Hourly 100 SMA).
EUR/AUD has been building up bids at the bottom of Junes down wave and threatens a relief rally ahead of RBA minutes if it can take out last Wednesdays high at 1.4480 targeting 1.4550. Meanwhile, Sean Callow, analyst at Westpac Banking Corporation ABN explained the AUD should continue to trend higher against EUR. “We expect ECB president Draghi to meet, perhaps beat expectations for easing on 5 June and not rule out further action if needed. AUD meanwhile probably has a sufficiently gloomy outlook priced in, with domestic data overdue for at least some recovery and momentum in China and thus key commodities stable to a touch firmer near term”.
EUR/AUD Levels
Current price is 1.4459, with resistance ahead at 1.4462 (Weekly Classic PP), 1.4467 (Yesterday's High), 1.4468 (Daily High), 1.4505 (Hourly 200 SMA) and 1.4506 (Daily Classic R2). Next support to the downside can be found at 1.4455 (Daily Classic R1), 1.4438 (Daily Open), 1.4434 (Daily Low), 1.4433 (Hourly 20 EMA) and 1.4416 (Hourly 100 SMA).