9 Mar 2015
EUR/AUD rejected at 1.4100
FXStreet (Mumbai) - EUR/AUD edged higher in the mid-Asian session, rebounding from six-month lows, largely on the back of Aussie weakness.
EUR/AUD faces stiff resistance at 5-DMA
Currently, the EUR/AUD cross edged higher by 0.30% and trades close to fresh session highs of 1.4097 levels, having rebounded from six month lows reached at 1.3942 levels in the previous session. The bounced-off half-yearly lows and regained 1.40 handle this Asian morning mainly driven by a weaker Australian dollar versus its US counterpart. The Aussie extends losses largely as the USD bulls remains supported on upbeat US jobs data.
Also, traders shrugged off better than expected Aus jobs ads data signalling improving employment prospects.
On the other hand, the shared currency trades almost flat against the US dollar, in a bid to recoup severe losses witnessed in last week. At the moment, the AUD/USD pair lower by -0.38% at 0.7692. While EUR/USD trades flat at 1.0842 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4107 (5-DMA) levels, above which gains could be extended to 1.4167 levels. On the flip side, support is seen at 1.4040 levels, from here it to 1.400 levels.
EUR/AUD faces stiff resistance at 5-DMA
Currently, the EUR/AUD cross edged higher by 0.30% and trades close to fresh session highs of 1.4097 levels, having rebounded from six month lows reached at 1.3942 levels in the previous session. The bounced-off half-yearly lows and regained 1.40 handle this Asian morning mainly driven by a weaker Australian dollar versus its US counterpart. The Aussie extends losses largely as the USD bulls remains supported on upbeat US jobs data.
Also, traders shrugged off better than expected Aus jobs ads data signalling improving employment prospects.
On the other hand, the shared currency trades almost flat against the US dollar, in a bid to recoup severe losses witnessed in last week. At the moment, the AUD/USD pair lower by -0.38% at 0.7692. While EUR/USD trades flat at 1.0842 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4107 (5-DMA) levels, above which gains could be extended to 1.4167 levels. On the flip side, support is seen at 1.4040 levels, from here it to 1.400 levels.