17 Feb 2015
EUR/AUD posts fresh session lows
FXStreet (Mumbai) - The common currency fell further versus the Australian dollar in the Asian morning, as the Aussie strengthened after the RBA minutes restated that the lower exchange rate would help support growth in the economy.
Declined from 1.4636 levels post minutes
Currently, the EUR/AUD cross trades at 1.4564 levels, losing -0.30% on the day, having previously posted fresh session lows at 1.4555 levels some minutes ago. The shared currency extended its downslide against the AUD, as the Aussie rose after a neutral RBA minutes reiterated that a lower exchange was needed to lift the country’s growth and also remained quiet upbeat on inflation forecasts. The cross remains lower also as the Euro trades weaker versus the US dollar as no resolution was reached over Greek debt talks at the EU meeting overnight.
Meanwhile, traders now turn their attention towards German ZEW economic sentiment data later in the day for further momentum on the cross.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4636 levels, above which gains could be extended to 1.4688 levels. On the flip side, support is seen at 1.4526 levels, from here it to 1.4452 levels.
Declined from 1.4636 levels post minutes
Currently, the EUR/AUD cross trades at 1.4564 levels, losing -0.30% on the day, having previously posted fresh session lows at 1.4555 levels some minutes ago. The shared currency extended its downslide against the AUD, as the Aussie rose after a neutral RBA minutes reiterated that a lower exchange was needed to lift the country’s growth and also remained quiet upbeat on inflation forecasts. The cross remains lower also as the Euro trades weaker versus the US dollar as no resolution was reached over Greek debt talks at the EU meeting overnight.
Meanwhile, traders now turn their attention towards German ZEW economic sentiment data later in the day for further momentum on the cross.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4636 levels, above which gains could be extended to 1.4688 levels. On the flip side, support is seen at 1.4526 levels, from here it to 1.4452 levels.