25 Jul 2013
EUR/AUD hovering above key resistance at 1.4405. Will breakout hold today?
FXstreet.com (Barcelona) - The EUR/AUD continued its recent upward move Thursday as traders continue to play the weak Asia / strong Europe trade that has been en vogue recently.
German data later this morning may give EUR/AUD a push in either direction
At 08:00 GMT Thursday, Germany’s Current Assessment, Business Climate and Expectations data will be released. That data, along with several minor releases from elsewhere in the Euro Zone may keep the EUR/AUD bullishly above the 1.4405 “correction resistance” level.
EUR/AUD technical levels
Technicians have been calling for a bit more of a correction to take place in EUR/AUD. A close above 1.4405 level will signal to the analysts that the correction has come and gone already. That is not a foregone conclusion,, though. Short-term support for EUR/AUD comes in at the afore-mentioned 1.4405 and is followed up by Tuesday’s close at 1.4225. First resistance for EUR/AUD comes in at today’s high of 1.4448 and is followed by the 7/12 high at 1.4477.
German data later this morning may give EUR/AUD a push in either direction
At 08:00 GMT Thursday, Germany’s Current Assessment, Business Climate and Expectations data will be released. That data, along with several minor releases from elsewhere in the Euro Zone may keep the EUR/AUD bullishly above the 1.4405 “correction resistance” level.
EUR/AUD technical levels
Technicians have been calling for a bit more of a correction to take place in EUR/AUD. A close above 1.4405 level will signal to the analysts that the correction has come and gone already. That is not a foregone conclusion,, though. Short-term support for EUR/AUD comes in at the afore-mentioned 1.4405 and is followed up by Tuesday’s close at 1.4225. First resistance for EUR/AUD comes in at today’s high of 1.4448 and is followed by the 7/12 high at 1.4477.