18 Dec 2014
EUR/AUD weakens to trade below 5-DMA
FXStreet (Mumbai) - The EUR/AUD is down for the second consecutive session, taking the pair well below the 5-DMA located at 1.5152 levels.
The EUR/AUD pair currently trades 0.70% lower at 1.5083 levels, compared to the previous session’s close of 1.5193. Moreover, the EUR/USD pair weakened sharply after the slightly hawkish Federal Reserve (Fed) policy statement increased the policy divergence between Fed and the European central Bank. The pair extended losses today, falling for a brief moment below the 1.3 levels. On the other hand, the AUD/USD pair has held up well, trading 0.47% higher at 0.8164 levels today. Thus, the EUR/AUD cross has been pushed lower today for the second consecutive session. The pair may extend losses if the German IFO data shows worsening of business climate.
EUR/AUD Technical Levels
The pair has an immediate support at 1.5077, under which losses could be extended to 1.5033 (hourly 200-SMA). Meanwhile, resistance is seen at 1.51 and 1.5152 levels.
The EUR/AUD pair currently trades 0.70% lower at 1.5083 levels, compared to the previous session’s close of 1.5193. Moreover, the EUR/USD pair weakened sharply after the slightly hawkish Federal Reserve (Fed) policy statement increased the policy divergence between Fed and the European central Bank. The pair extended losses today, falling for a brief moment below the 1.3 levels. On the other hand, the AUD/USD pair has held up well, trading 0.47% higher at 0.8164 levels today. Thus, the EUR/AUD cross has been pushed lower today for the second consecutive session. The pair may extend losses if the German IFO data shows worsening of business climate.
EUR/AUD Technical Levels
The pair has an immediate support at 1.5077, under which losses could be extended to 1.5033 (hourly 200-SMA). Meanwhile, resistance is seen at 1.51 and 1.5152 levels.