21 Mar 2014
EUR/AUD bears threats to break below 1.5200 support
FXStreet (Moscow) - EUR/AUD has come close to the pivotal level of 1.5200 on the back of Aussie strengthening across the board
EUR/AUD follows where Aussie leads
EUR/AUD finished Thursday in the red zone due to massive EUR sell-off. The cross dropped below 1.5300 and closed at 1.5240. Today the bears may try to break below 1.5200 as the Aussie upside across the board increases the downside pressure on the cross. Both Australian and European calendars are empty today, so we expect that the EUR/AUD fate will depend on speculative flows and technical factors. The movement below 1.5200 may trigger the stops located and accelerate the downside to 1.5147/50, on the upside the first resistance comes at Asian highs of 1.5240 and followed by 1.5260
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5275, with the support at 1.5191, 1.5138 and 1.5054, with resistance above at 1.5328, 1.5412 and 1.5465. Hourly Moving Averages are bearish, with the 200SMA at 1.5348 and the daily 20EMA at 1.5319. Hourly RSI is neutral at 30.
EUR/AUD follows where Aussie leads
EUR/AUD finished Thursday in the red zone due to massive EUR sell-off. The cross dropped below 1.5300 and closed at 1.5240. Today the bears may try to break below 1.5200 as the Aussie upside across the board increases the downside pressure on the cross. Both Australian and European calendars are empty today, so we expect that the EUR/AUD fate will depend on speculative flows and technical factors. The movement below 1.5200 may trigger the stops located and accelerate the downside to 1.5147/50, on the upside the first resistance comes at Asian highs of 1.5240 and followed by 1.5260
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5275, with the support at 1.5191, 1.5138 and 1.5054, with resistance above at 1.5328, 1.5412 and 1.5465. Hourly Moving Averages are bearish, with the 200SMA at 1.5348 and the daily 20EMA at 1.5319. Hourly RSI is neutral at 30.