2 Jun 2014
EUR/AUD continuing to inch lower
FXStreet (Guatemala) - Currently, EUR/AUD is trading at 1.4678, up 0.26% on the day, having posted a daily high at 1.4692 and low at 1.4630.
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish still. However, the pair has eased and continued lower to test the downside on the release of very poor Building Permits data. Meanwhile, we await the ECB this week for further direction. “It is among the most important events of the first half and possibly the entire year”, explained Brown Brothers Harriman’s Global Currency Strategy Team. “After much preparation and jawboning, the ECB is widely expected to take unconventional measures counter the low inflation and risk of deflation. It may also announce fresh initiatives to help facilitate financing for small and medium sized businesses”.
EUR/AUD Levels
Current price is 1.4683, with resistance ahead at 1.4690 (Daily Classic R1), 1.4692 (Daily High), 1.4692 (Hourly 100 SMA), 1.4734 (Daily ClassicR2) and 1.4741 (Hourly 200 SMA). Next support to the downside can be found at 1.4680 (Yesterday's High), 1.4668 (Weekly Classic PP), 1.4647 (Daily Open), 1.4644 (Hourly 20 EMA) and 1.4635 (Daily Classic PP).
The FXStreet OB/OS Index is reflecting neutral hourly conditions, while the FXStreet Trend Index is slightly bullish still. However, the pair has eased and continued lower to test the downside on the release of very poor Building Permits data. Meanwhile, we await the ECB this week for further direction. “It is among the most important events of the first half and possibly the entire year”, explained Brown Brothers Harriman’s Global Currency Strategy Team. “After much preparation and jawboning, the ECB is widely expected to take unconventional measures counter the low inflation and risk of deflation. It may also announce fresh initiatives to help facilitate financing for small and medium sized businesses”.
EUR/AUD Levels
Current price is 1.4683, with resistance ahead at 1.4690 (Daily Classic R1), 1.4692 (Daily High), 1.4692 (Hourly 100 SMA), 1.4734 (Daily ClassicR2) and 1.4741 (Hourly 200 SMA). Next support to the downside can be found at 1.4680 (Yesterday's High), 1.4668 (Weekly Classic PP), 1.4647 (Daily Open), 1.4644 (Hourly 20 EMA) and 1.4635 (Daily Classic PP).