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31 Jul 2014
EUR/AUD testing bears resilience
FXStreet (Guatemala) - EUR/AUD is trading at 1.4392, up 0.24% on the day, having posted a daily high at 1.4396 and low at 1.4353.
As with the conditions of the volatility and pro dollar market, EUR/AUD has been set free after a number of attempts to the upside through the 1.43 handle and is climbing higher on a poorer than expected Australian building permits result. In relation to the eurozone, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained, data have been mixed, but near term focus shifts to Thursday’s advance CPI for the euro area (exp. 0.5% YoY on headline, unchanged; core exp. unchanged YoY at 0.8%)."
EUR/AUD Levels
Spot is presently trading at 1.4393, and next resistance can be seen at 1.4396 (High), 1.4427 (Weekly Classic R1) and 1.4485 (Daily Classic R3). Support below can be found at 1.4389 (Daily 20 SMA), 1.4374, 1.4358 and 1.4320/1.4300 ahead of 1.4280 supporting the channel on the downside.
As with the conditions of the volatility and pro dollar market, EUR/AUD has been set free after a number of attempts to the upside through the 1.43 handle and is climbing higher on a poorer than expected Australian building permits result. In relation to the eurozone, Camilla Sutton, CFA, CMT, Chief FX Strategist at Scotiabank explained, data have been mixed, but near term focus shifts to Thursday’s advance CPI for the euro area (exp. 0.5% YoY on headline, unchanged; core exp. unchanged YoY at 0.8%)."
EUR/AUD Levels
Spot is presently trading at 1.4393, and next resistance can be seen at 1.4396 (High), 1.4427 (Weekly Classic R1) and 1.4485 (Daily Classic R3). Support below can be found at 1.4389 (Daily 20 SMA), 1.4374, 1.4358 and 1.4320/1.4300 ahead of 1.4280 supporting the channel on the downside.