17 Dec 2014
EUR/AUD rises for the eighth consecutive session
FXStreet (Mumbai) - The EUR/AUD has strengthened today for the eighth consecutive session after the Aussie tumbled to a fresh 4-1/2 year lows against the US dollar.
The EUR/AUD pair currently trades 0.16% higher at 1.5244 levels, compared to the previous session’s close of 1.5225 levels. The pair hit a high of 1.5333, although the major part of the gains were erased due to the weakness in the EUR /USD pair. Moreover, the Australian Dollar has weakened sharply across the board on account of falling commodity prices and Reserve Bank of Australia’s (RBA) pledge to keep interest rates at record lows for an extended period of time.
EUR/AUD Technical Levels
The pair has an immediate support on the hourly charts located at 1.5244, under which the pair could test 1.5190 levels. Meanwhile, resistance is seen at 1.5333 and 1.5414 levels.
The EUR/AUD pair currently trades 0.16% higher at 1.5244 levels, compared to the previous session’s close of 1.5225 levels. The pair hit a high of 1.5333, although the major part of the gains were erased due to the weakness in the EUR /USD pair. Moreover, the Australian Dollar has weakened sharply across the board on account of falling commodity prices and Reserve Bank of Australia’s (RBA) pledge to keep interest rates at record lows for an extended period of time.
EUR/AUD Technical Levels
The pair has an immediate support on the hourly charts located at 1.5244, under which the pair could test 1.5190 levels. Meanwhile, resistance is seen at 1.5333 and 1.5414 levels.