20 Feb 2015
EUR/AUD hits fresh 1-week lows, holds above 1.4500
FXStreet (Mumbai) - The shared currency extended losses and fell further in red versus the Australian dollar in the European session as EUR/USD slipped to fresh lows after downbeat German PPI data.
EUR/AUD fast approaching 200-DMA
Currently, the EUR/AUD cross sinks -0.50% and trades at fresh weekly lows of 1.5413 levels. The cross dived deeper in losses after Germany’s PPI data came much lower than market expectations, dragging the euro lower across the board. Moreover, the losses were accelerated amid concerns surrounding Greek loan extension talks in the upcoming EU meeting today.
Earlier in the day, EUR/AUD edged lower after S&P clarified that there was no real risk to the country's AAA credit rating. At the moment, the AUD/USD pair trades at 0.7817, up 0.33% on the day. While EUR/USD trades flat at 1.1307 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4585 levels, above which gains could be extended to 1.4619 levels. On the flip side, support is seen at 1.4466 levels, from here it to 1.4420 levels.
EUR/AUD fast approaching 200-DMA
Currently, the EUR/AUD cross sinks -0.50% and trades at fresh weekly lows of 1.5413 levels. The cross dived deeper in losses after Germany’s PPI data came much lower than market expectations, dragging the euro lower across the board. Moreover, the losses were accelerated amid concerns surrounding Greek loan extension talks in the upcoming EU meeting today.
Earlier in the day, EUR/AUD edged lower after S&P clarified that there was no real risk to the country's AAA credit rating. At the moment, the AUD/USD pair trades at 0.7817, up 0.33% on the day. While EUR/USD trades flat at 1.1307 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4585 levels, above which gains could be extended to 1.4619 levels. On the flip side, support is seen at 1.4466 levels, from here it to 1.4420 levels.