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29 Jan 2014
EUR/AUD is nested at the support of 1.5500, waiting for new catalysts
FXstreet.com (Moscow) - EUR/AUD settled slightly above the support of 1.5500 after falling to intraday lows of 1.5476 on the back of Turkish CB rate decision.
EUR/AUD is depressed by Turkish central bank decision
EUR/AUD fell below 1.5500 on Thuesday on general AUD corrective rebound, but failed to finish day below that level as the overall AUD sentiment is still very bearish. Today the Aussie is rallying as the Turkish central bank announced that the marginal funding rate rate is raised form 7.75% to 12.00%, while the borrowing rate is raised from 3.5% to 8.0%. This pushed the Australian currency higher across the board as risk sentiments improved. Westpac leading Index published earlier today improved an this means that the condition of the Australian economy is not as bad as it might seem. Though it is obviously not enough to reverse the dovish RBA stance. Thus we remain bearish on Aussie in the long-term but the intraday dynamic is likely to be shaped by the corrective moves. Watch out for 1.5500, as buying orders placed around this level might push the cross higher. If it is broken, the downside will accelerate to 1.5470. The resistance comes at 1.5570.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5579, with the support at 1.5487, 1.5395 and 1.5303, with resistance above at 1.5671, 1.5763 and 1.5855. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.5492 and the daily 20EMA at 1.5415. Hourly RSI is neutral at 40.
EUR/AUD is depressed by Turkish central bank decision
EUR/AUD fell below 1.5500 on Thuesday on general AUD corrective rebound, but failed to finish day below that level as the overall AUD sentiment is still very bearish. Today the Aussie is rallying as the Turkish central bank announced that the marginal funding rate rate is raised form 7.75% to 12.00%, while the borrowing rate is raised from 3.5% to 8.0%. This pushed the Australian currency higher across the board as risk sentiments improved. Westpac leading Index published earlier today improved an this means that the condition of the Australian economy is not as bad as it might seem. Though it is obviously not enough to reverse the dovish RBA stance. Thus we remain bearish on Aussie in the long-term but the intraday dynamic is likely to be shaped by the corrective moves. Watch out for 1.5500, as buying orders placed around this level might push the cross higher. If it is broken, the downside will accelerate to 1.5470. The resistance comes at 1.5570.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5579, with the support at 1.5487, 1.5395 and 1.5303, with resistance above at 1.5671, 1.5763 and 1.5855. Hourly Moving Averages are mostly bearish, with the 200SMA at 1.5492 and the daily 20EMA at 1.5415. Hourly RSI is neutral at 40.