8 May 2014
EUR/AUD depressed by Australian data, but ECB may change its fortunes
FXStreet (Moscow) - EUR/AUD dipped to weekly lows of 1.4841 when Australia published unexpectedly better labor market data.
Aussie rules the day
EUR/AUD bears snatched the initiative and drove the the cross to its current weekly lows of 1.4841. This is 100 pips lower than early on Monday. Australia surprised markets with 22k new job in April against forecasted 6750 and 14,200 in March. This news pushed Aussie higher across the board, but EUR/AUD gains might be reversed later today, as the next major event of the day is the ECB monetary policy decision. Technically, 1.4810/00 is the key hurdle for the bears. The bulls need to go back above 149.00 to brighten thins up.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.4915 with the support at 1.4887, 1.4860 and 1.4832, with resistance above at 1.4942, 1.4970 and 1.4997. Hourly Moving Averages are bearish, with the 200SMA at 1.4936 and the daily 20EMA at 1.4901. Hourly RSI is bearishat 30.
Aussie rules the day
EUR/AUD bears snatched the initiative and drove the the cross to its current weekly lows of 1.4841. This is 100 pips lower than early on Monday. Australia surprised markets with 22k new job in April against forecasted 6750 and 14,200 in March. This news pushed Aussie higher across the board, but EUR/AUD gains might be reversed later today, as the next major event of the day is the ECB monetary policy decision. Technically, 1.4810/00 is the key hurdle for the bears. The bulls need to go back above 149.00 to brighten thins up.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.4915 with the support at 1.4887, 1.4860 and 1.4832, with resistance above at 1.4942, 1.4970 and 1.4997. Hourly Moving Averages are bearish, with the 200SMA at 1.4936 and the daily 20EMA at 1.4901. Hourly RSI is bearishat 30.