15 Apr 2014
EUR/AUD falls to test April lows
FXStreet (Córdoba) - The EUR/AUD started the week with a bearish bias and closed barely above April lows. Early in Asia remains below 1.4700 ahead of RBA minutes, trading between 1.4680 and 1.4660. On Monday the EUR/AUD posted the lowest daily close since November.
The Euro fell back to last week lows as the recovery of Friday proved to be short lived. The pair peaked at 1.4834 but lost momentum and trimmed gains. At the beginning of the current week price retreated further and accelerated to the downside after breaking below 1.4730.
Levels for the EUR/AUD
To the upside immediate resistance lies at 1.4680 and above here at 1.4730/35 and 1.4765 (April 14 high). On the other direction, initial support could be located at 1.4650 (April 10 low) and below here at 1.4605 and 1.4560 (October 1 high).
The Euro fell back to last week lows as the recovery of Friday proved to be short lived. The pair peaked at 1.4834 but lost momentum and trimmed gains. At the beginning of the current week price retreated further and accelerated to the downside after breaking below 1.4730.
Levels for the EUR/AUD
To the upside immediate resistance lies at 1.4680 and above here at 1.4730/35 and 1.4765 (April 14 high). On the other direction, initial support could be located at 1.4650 (April 10 low) and below here at 1.4605 and 1.4560 (October 1 high).