EUR/AUD flat last week, Eurozone GDP to bring some fresh volatility Wednesday

• EUR/AUD middled last week, down 36 pips for the week.
• EU GDP, German CPI to shake up market sentiment early Wednesday.

EUR/AUD is middling in early Tokyo trading, sticking close by 1.5672 to start the new week.

The Euro traded evenly with the Aussie last week, as market fears over looming inflation trade places with risk appetite, and that indecision has left EUR/AUD hanging in place near two-year highs. 

Germany will be publishing their Harmonized Consumer Price Index data early on Wednesday at 07:00 GMT, which will be followed by GDP figures for the broad Eurozone at 10:00. Traders can expect some volatility as markets battle risk sentiment and economic growth expectations for the European Union.

EUR/JPY Technicals

The pair's decline on Friday looks set to price in a soft double top on H$ candles off the 1.5775 level, and if the rejection follows through, will go a long way to confirming a double top on Daily candles from the same region; however the pair is still trading well into an uptrend, with price over the 34 EMA and well over the 200-day SMA which is still sloping upwards, indicating bullish trading conditions. Intraday trading will be straddled by support/resistance at 1.5650 and 1.5770, respectively.