17 Feb 2015
EUR/AUD: Choppy on the rebound ahead of 1.4680 resistance
FXStreet (Guatemala) - EUR/AUD is currently trading at 1.4580 with a high of 1.4640 and low of 1.4532.
EUR/AUD is making a lower high but a higher low on the offer is is reluctant to give up its post for the month of Feb, having made gains in the 1.4000's and scoring a high of 1.4894 so far for the month.
The price action has been relatively choppy and attempting to fend off the bearishness within an uncertain political environment in Europe over Greece, France, Italy and bordering states as Russia and Ukraine and all of the while as the Aussie finds some support on a neutral set of minutes from the RBA overnight. Technically, the pair is trading with a bullish bias against the heavy bearish trend that came on during the final trade of 2014. 1.4680 / 1.4800 needs to be conquered to alleviate immediate pressures although the key target would be 1.5000 to mark a correction and bring the cross back into bullish territory.
EUR/AUD is making a lower high but a higher low on the offer is is reluctant to give up its post for the month of Feb, having made gains in the 1.4000's and scoring a high of 1.4894 so far for the month.
The price action has been relatively choppy and attempting to fend off the bearishness within an uncertain political environment in Europe over Greece, France, Italy and bordering states as Russia and Ukraine and all of the while as the Aussie finds some support on a neutral set of minutes from the RBA overnight. Technically, the pair is trading with a bullish bias against the heavy bearish trend that came on during the final trade of 2014. 1.4680 / 1.4800 needs to be conquered to alleviate immediate pressures although the key target would be 1.5000 to mark a correction and bring the cross back into bullish territory.