17 Jan 2014
EUR/AUD finds resistance at 1.5500
FXstreet.com (Córdoba) - The EUR/AUD soared on Thursday following a weak jobs report in Australia and finished around 1.5430, posting the highest daily close since the beginning of the year.
EUR/AUD fails at 1.5500
During the European session the pair peaked at 1.5508, reaching the strongest price level since December 30, but failed to hold above 1.5500 and pulled back afterwards, to finished the day around 1.5430, at the lowest level since the Asian session.
The Euro is headed toward a weekly gain of more than 200 pips. But more impressive is the rally of the last three days. From Monday's low it has risen 410 pips, making a strong reversal.
To the upside, immediate resistance lies at 1.5505/10 (January 16 high) and above at 1.5550 and 1.5600 (December 27). Support levels could be located at 1.5415 (American session low), 1.5355 and 1.5305.
EUR/AUD fails at 1.5500
During the European session the pair peaked at 1.5508, reaching the strongest price level since December 30, but failed to hold above 1.5500 and pulled back afterwards, to finished the day around 1.5430, at the lowest level since the Asian session.
The Euro is headed toward a weekly gain of more than 200 pips. But more impressive is the rally of the last three days. From Monday's low it has risen 410 pips, making a strong reversal.
To the upside, immediate resistance lies at 1.5505/10 (January 16 high) and above at 1.5550 and 1.5600 (December 27). Support levels could be located at 1.5415 (American session low), 1.5355 and 1.5305.