29 Oct 2013
EUR/AUD regains 1.44 on RBA’s talkñ hits 1.4448 ceiiling
FXstreet.com (Chicago) - EUR/AUD extended the bearish channel with a gradual descent below the 1.44 front until RBA’s Stevens talked.
Ivan Delgado, Head editor for the Asian session at FXstreet.com, highlights Stevens ' comments: “RBA's Stevens: start of policy normalization by US federal reserve would lessen RBA's own policy difficulties” adding “lower currency would help ease squeeze on trade-exposed sector of economy”
EUR/AUD Technical Levels
Technically speaking, the pair extends the sideways movement that started last October 24th with the fall to the 1.4330 zone for a bounce above 1.44 zone and consequent repeated flow at several occasions. Offered at 1.4396, the pair gives in the 1.44 zone ahead of Tokyo’s opening and Stevens speech. On the downside, supports are aligned at 1.4362 (October 24th lows), 1.4332 (October 22nd highs) ahead of 1.4271 (October 26th lows) and resistances are set at 1.4414 (October 28th highs), 1.4454 (October 7th highs) followed by 1.4523 (September 30th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and trades above the EMA20.
Ivan Delgado, Head editor for the Asian session at FXstreet.com, highlights Stevens ' comments: “RBA's Stevens: start of policy normalization by US federal reserve would lessen RBA's own policy difficulties” adding “lower currency would help ease squeeze on trade-exposed sector of economy”
EUR/AUD Technical Levels
Technically speaking, the pair extends the sideways movement that started last October 24th with the fall to the 1.4330 zone for a bounce above 1.44 zone and consequent repeated flow at several occasions. Offered at 1.4396, the pair gives in the 1.44 zone ahead of Tokyo’s opening and Stevens speech. On the downside, supports are aligned at 1.4362 (October 24th lows), 1.4332 (October 22nd highs) ahead of 1.4271 (October 26th lows) and resistances are set at 1.4414 (October 28th highs), 1.4454 (October 7th highs) followed by 1.4523 (September 30th highs). According to the FXstreet.com trend index on one-hour timeframe analysis, the pair is slightly bullish and trades above the EMA20.