6 Feb 2014
EUR/AUD in ranges, near weekly lows
FXStreet (Córdoba) - The EUR/AUD posted moderate gains on Wednesday, after plunging on Tuesday, but failed to finish above 1.5200. The pair peaked during the Asian session at 1.5228, lost momentum and fell to test weekly lows at the 1.5110 zone, but managed to hold and rose back above 1.5200. In the last hours of the American session pulled back to close at 1.5185.
Early in Asia the EUR/AUD is moving to the downside and currently trades at 1.5170, down 0.10% for the day.
EUR/AUD levels to watch
To the downside the 1.5100/10 area is a key level to watch, that capped the downside several times since the beginning of the year. A weekly close below could suggest a continuation of the retreated from 1.5835 (2014 high). Below the next support lies at 1.5010 and 1.4950.
If the Euro manages to hold above 1.5110 it could gain momentum and attempt to resume the upside. Resistance levels might be located at 1.5230 (February 5 high), 1.5330 and 1.5420.
Early in Asia the EUR/AUD is moving to the downside and currently trades at 1.5170, down 0.10% for the day.
EUR/AUD levels to watch
To the downside the 1.5100/10 area is a key level to watch, that capped the downside several times since the beginning of the year. A weekly close below could suggest a continuation of the retreated from 1.5835 (2014 high). Below the next support lies at 1.5010 and 1.4950.
If the Euro manages to hold above 1.5110 it could gain momentum and attempt to resume the upside. Resistance levels might be located at 1.5230 (February 5 high), 1.5330 and 1.5420.