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29 Dec 2014
EUR/AUD hits 12-day low
FXStreet (Mumbai) - The EUR/AUD fell to 1.4962 today, its weakest since Dec. 11, as the Greece risks snap election if the parliament fails to elect a president for the third time.
The pair currently trades 0.21% lower at 1.4970, compared to the previous session’s close of 1.4997. Moreover, the pair has repeatedly failed in past few sessions to sustain gains above the 50-DMA and the 10-DMA levels, while the losses have been capped around 1.4975-1.4985 levels. The single currency may extend losses as the failure to elect a President shall open doors for snap election that could see the anti-austerity, radical leftist Syriza party come out on top.
EUR/AUD Technical Levels
The immediate support is seen at 1.4942, followed by another support at 1.4848 levels. Meanwhile, resistance is seen at 1.5023 (5-DMA) and 1.5063 (10-DMA) levels.
The pair currently trades 0.21% lower at 1.4970, compared to the previous session’s close of 1.4997. Moreover, the pair has repeatedly failed in past few sessions to sustain gains above the 50-DMA and the 10-DMA levels, while the losses have been capped around 1.4975-1.4985 levels. The single currency may extend losses as the failure to elect a President shall open doors for snap election that could see the anti-austerity, radical leftist Syriza party come out on top.
EUR/AUD Technical Levels
The immediate support is seen at 1.4942, followed by another support at 1.4848 levels. Meanwhile, resistance is seen at 1.5023 (5-DMA) and 1.5063 (10-DMA) levels.