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24 Dec 2013
EUR/AUD bouncing modestly for a second straight session – downside target remains 1.4850 – 1.5022
FXstreet.com (Barcelona) - EUR/AUD is bouncing for a second consecutive session as traders give more weight to RBA Governor Stevens’ comments earlier this month regarding taking the Aussie Dollar down to boost the Aussie economy.
EUR/AUD traders to rely on technicals Tuesday as no data is due out
EUR/AUD traders will be trading strictly off of technicals and momentum Tuesday as there are no market-moving data points due out from Australia or Europe.
Technical outlook for EUR/AUD
Technicians say EUR/AUD topped out at the 1.5578 level last Wednesday and appears to be in the midst of a downside correction with targets starting at 1.5234 and continuing to 1.5022 and 1.4851. Resistance above 1.5578 comes in at 1.5600.
EUR/AUD traders to rely on technicals Tuesday as no data is due out
EUR/AUD traders will be trading strictly off of technicals and momentum Tuesday as there are no market-moving data points due out from Australia or Europe.
Technical outlook for EUR/AUD
Technicians say EUR/AUD topped out at the 1.5578 level last Wednesday and appears to be in the midst of a downside correction with targets starting at 1.5234 and continuing to 1.5022 and 1.4851. Resistance above 1.5578 comes in at 1.5600.