11 Dec 2014
EUR/AUD drops after upbeat Oz Jobs Data
FXStreet (Mumbai) - The single currency trades lower against the Australian dollar after Australia’s labour market report showed an uptick in employment change numbers.
Currently, the EUR/AUD trades at 1.4940 levels, down -0.19%, compared to previous day’s close of 1.4966. The Aussie gained strength after the Australian Bureau of Statistics (ABS) jobs report showed that 42.7k new jobs were added to the economy in November, much higher than the estimates of 15k. Also, the Oz unemployment rate came in at 6.3%, well in line with the market expectations.
The downside in the EUR/AUD pair was also seen as AUD/USD climbed higher after the jobs data.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4976 (Dec 9 High) levels, above which gains could be extended to 1.5011 (May 2014 High) levels. On the flip side, support is seen at 1.4923 (50-day SMA), below which it could extend losses to 1.4861 (100-day SMA) levels.
Currently, the EUR/AUD trades at 1.4940 levels, down -0.19%, compared to previous day’s close of 1.4966. The Aussie gained strength after the Australian Bureau of Statistics (ABS) jobs report showed that 42.7k new jobs were added to the economy in November, much higher than the estimates of 15k. Also, the Oz unemployment rate came in at 6.3%, well in line with the market expectations.
The downside in the EUR/AUD pair was also seen as AUD/USD climbed higher after the jobs data.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4976 (Dec 9 High) levels, above which gains could be extended to 1.5011 (May 2014 High) levels. On the flip side, support is seen at 1.4923 (50-day SMA), below which it could extend losses to 1.4861 (100-day SMA) levels.