22 Jan 2014
EUR/AUD consolidates near 1.5400
FXstreet.com (Córdoba) - The EUR/AUD closed Tuesday practically flat and despite reaching 3-day lows at 1.5337 and trading momentarily above 1.5400 continues to move sideways ahead of the release of inflation data from Australia.
The Euro rose slightly versus the Aussie on Tuesday after falling in the previous two trading days. Last week, boosted by a weak Australian employment report the EUR/AUD jumped to 1.5500 but failed to hold and pulled back constantly until yesterday, when the pair bounced to the upside, after finding support above 1.5330.
Levels to watch for EUR/AUD
The short-term perspective remains sideways, with the pair hovering around 1.5400. To the upside immediate resistance lies at 1.5425 (January 21 high) and above at 1.5485 (January 17 high). To the downside, potential support is located at 1.5335 (January 21 low) and 1.5271 (January 14 high).
The Euro rose slightly versus the Aussie on Tuesday after falling in the previous two trading days. Last week, boosted by a weak Australian employment report the EUR/AUD jumped to 1.5500 but failed to hold and pulled back constantly until yesterday, when the pair bounced to the upside, after finding support above 1.5330.
Levels to watch for EUR/AUD
The short-term perspective remains sideways, with the pair hovering around 1.5400. To the upside immediate resistance lies at 1.5425 (January 21 high) and above at 1.5485 (January 17 high). To the downside, potential support is located at 1.5335 (January 21 low) and 1.5271 (January 14 high).