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28 Feb 2014
EUR/AUD bulls are struggling at the resistance of 1.5316
FXStreet (Moscow) - EUR/AUD is trying to hold ground above key mid-term resistance at 1.5316 on the back of Aussie selling across the board; current Asian high is 1.5321
EUR vs. AUD: what is more risky?
EUR/AUD was pretty indecisive on Thursday as the bearish pressure on the Aussie was compensated by the same pressure on the single currency. The cross had three positive days in susscession and reached an important resistance at 1.5316/20. The bulls need to clear it to confirm their determination to drive the cross higher. Considering the general anti-risk environment where both Aussie and Euro are considered to be risky, the chances are that EUR/AUD will bump into the above said resistance and enter into consolidation mode. The support at 1.5285 will limit the downside. From the fundamental point of view, watch for the Eurozone CPI numbers published during European hours as they may increase volatility in the market.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5302, with the support at 1.5250, 1.5197 and 1.5143, with resistance above at 1.5357, 1.5411 and 1.5464. Hourly Moving Averages are mixed, with the 200SMA at 1.5255 and the daily 20EMA at 1.5261. Hourly RSI is neutral at 44.
EUR vs. AUD: what is more risky?
EUR/AUD was pretty indecisive on Thursday as the bearish pressure on the Aussie was compensated by the same pressure on the single currency. The cross had three positive days in susscession and reached an important resistance at 1.5316/20. The bulls need to clear it to confirm their determination to drive the cross higher. Considering the general anti-risk environment where both Aussie and Euro are considered to be risky, the chances are that EUR/AUD will bump into the above said resistance and enter into consolidation mode. The support at 1.5285 will limit the downside. From the fundamental point of view, watch for the Eurozone CPI numbers published during European hours as they may increase volatility in the market.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5302, with the support at 1.5250, 1.5197 and 1.5143, with resistance above at 1.5357, 1.5411 and 1.5464. Hourly Moving Averages are mixed, with the 200SMA at 1.5255 and the daily 20EMA at 1.5261. Hourly RSI is neutral at 44.