29 Jul 2013
EUR/AUD flat for the session near 1.4350
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at 1.4343, inside a trading range between 1.4367/10 for the session being, as OIS are pricing in a 78% chance the RBA will cut rates next week.
EUR/AUD looks overbought on medium term
“EUR/AUD looks overbought on medium-term outlook,” says FXWW founder Sean Lee, adding: “Has been struggling to confirm above 1.4400 and we could see a pull-back toward more neutral levels near 1.40.” The cross it totally flat for the week so far, but up +13.06% year to date, and +13.43% in last 3 months.
EUR/AUD key technical levels
Immediate resistance to the upside for EUR/AUD shows at Friday's highs at 1.4373, followed by July 03 highs 1.4399, and Thursday's highs at 1.4456. To the downside, closest support lies at recent session lows 1.4310, followed by Friday's lows at 1.4289, and July 12 lows at 1.4235.
EUR/AUD looks overbought on medium term
“EUR/AUD looks overbought on medium-term outlook,” says FXWW founder Sean Lee, adding: “Has been struggling to confirm above 1.4400 and we could see a pull-back toward more neutral levels near 1.40.” The cross it totally flat for the week so far, but up +13.06% year to date, and +13.43% in last 3 months.
EUR/AUD key technical levels
Immediate resistance to the upside for EUR/AUD shows at Friday's highs at 1.4373, followed by July 03 highs 1.4399, and Thursday's highs at 1.4456. To the downside, closest support lies at recent session lows 1.4310, followed by Friday's lows at 1.4289, and July 12 lows at 1.4235.