23 Aug 2013
EUR/AUD consolidating above 1.4800
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at 1.4826, off recent NY session highs at 1.4857, slightly in the negative from previous Asia-Pacific open yesterday given slightly more strength in Aussie than in Euro.
EUR/AUD likely to continue its bullish trend
According to the Dukascopy Bank Team: “EUR/AUD is likely to continue its bullish trend, but daily resistances at 1.4918 and 1.4959 may prevent strong gains of the pair. Moreover, in the long run, the pair may overcome an upper channel line and see an accelerating rally. However, a slight decline also may appear, if the pair breaks the daily support at 1.4814 and moves towards the second daily support at 1.4750.”
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at early NY session lows 1.4750, followed by August 01 lows at 1.4704, and Friday's highs at 1.4627. To the upside, closest resistance shows at August 08 highs 1.4867, followed by August 07 highs at 1.4901, and August 01 highs at 1.4913.
EUR/AUD likely to continue its bullish trend
According to the Dukascopy Bank Team: “EUR/AUD is likely to continue its bullish trend, but daily resistances at 1.4918 and 1.4959 may prevent strong gains of the pair. Moreover, in the long run, the pair may overcome an upper channel line and see an accelerating rally. However, a slight decline also may appear, if the pair breaks the daily support at 1.4814 and moves towards the second daily support at 1.4750.”
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at early NY session lows 1.4750, followed by August 01 lows at 1.4704, and Friday's highs at 1.4627. To the upside, closest resistance shows at August 08 highs 1.4867, followed by August 07 highs at 1.4901, and August 01 highs at 1.4913.