23 Dec 2014
EUR/AUD jumps, clocks fresh daily highs
FXStreet (Mumbai) - The single currency made a solid come-back against the Australian dollar today after falling for four days in a row.
The EUR/AUD pair now trades at fresh day’s high levels at 1.5123, up 0.54% on the day, after plunging to 1.5004 low levels in the previous session. The pair witnessed sharp gains largely on the back of a slump in AUD/USD which now reached fresh five year low at 0.8089 levels, down -0.48% on the day. The Aussie remains pressured on falling commodities prices which weigh on Australian equities as well. Australia is a commodity export dependent economy.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.5061 (200-day SMA) levels, above which gains could be extended to 1.5114 (50-day SMA) levels. On the flip side, support is seen at 1.5027 (5-day SMA) levels, from here it to 1.5 levels.
The EUR/AUD pair now trades at fresh day’s high levels at 1.5123, up 0.54% on the day, after plunging to 1.5004 low levels in the previous session. The pair witnessed sharp gains largely on the back of a slump in AUD/USD which now reached fresh five year low at 0.8089 levels, down -0.48% on the day. The Aussie remains pressured on falling commodities prices which weigh on Australian equities as well. Australia is a commodity export dependent economy.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.5061 (200-day SMA) levels, above which gains could be extended to 1.5114 (50-day SMA) levels. On the flip side, support is seen at 1.5027 (5-day SMA) levels, from here it to 1.5 levels.