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30 Jul 2014
EUR/AUD targeting 1.42 handle for 1.4150
FXStreet (Guatemala) - EUR/AUD is trading at 1.4294, up 0.04% on the day, having posted a daily high at 1.4308 and low at 1.4283.
AUD has been in a sideways pattern since the uptrend that had been resumed when we were eyeing 1.42001.4150. Sean Callow, analyst at Westpac Banking Corporation ABN explained, “We don’t expect market talk of RBA easing to be validated in August, supporting AUD on crosses. In contrast, the ECB’s firm easing bias should chip away at EUR, with capital inflows waning as peripheral Eurozone markets reach overpriced levels and low inflation keeps alive talk of further ECB action”.
EUR/AUD Levels
With spot trading at 1.4295, we can see next resistance ahead at 1.4308 (Daily High), and 1.4334 (Weekly High). Support below can be found at 1.4293 (Hourly 20 EMA) and 1.4285 (Hourly 100 SMA).
AUD has been in a sideways pattern since the uptrend that had been resumed when we were eyeing 1.42001.4150. Sean Callow, analyst at Westpac Banking Corporation ABN explained, “We don’t expect market talk of RBA easing to be validated in August, supporting AUD on crosses. In contrast, the ECB’s firm easing bias should chip away at EUR, with capital inflows waning as peripheral Eurozone markets reach overpriced levels and low inflation keeps alive talk of further ECB action”.
EUR/AUD Levels
With spot trading at 1.4295, we can see next resistance ahead at 1.4308 (Daily High), and 1.4334 (Weekly High). Support below can be found at 1.4293 (Hourly 20 EMA) and 1.4285 (Hourly 100 SMA).