13 Sep 2013
EUR/AUD glued to 1.4350 zone
FXstreet.com (Chicago) - EUR/AUD continues registering lower lows despite attempts to consolidate above the zone at 1.4350. The pair accumulates minimal gains at 0.06% so far ahead of Tokyo’s opening.
Data recap
Earlier in Europe, industrial production disappointed at -2.1% (YoY) vs. past -0.4% and expected -0.1%. The monthly results were -1.5% vs. prior 0.6% and estimates at 0.1%. A new member was introduced, Latvia, and welcomed by the ECB President Mario Draghi. In Australia, the Aussie suffered a major sell-off across the board after weaker than expected job market results triggered a panicky reaction among market participants who rush to get rid of the currency. Indeed, at -10,800, employment failed to meet expectations at 10,000. The euro jumped from 1.420 zone to 1.4370 zone within minutes.
EUR/AUD Technical Levels
Price action reveals the pair was capped around the 1.4370 zone. A steady decline afterwards revealed bearish pressure prior to Tokyo’s opening. Offered at 1.4350, the pair aims to consolidate above that zone and oscillates between the supports at 1.4344 (September 5th lows), 1.4292 (September 8th lows), 1.4232 (September 11th lows) and resistances at 1.4417 (July 14th highs), 1.4469 (September 6th highs), 1.4535 (August 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and navigates above the EMA20.
Data recap
Earlier in Europe, industrial production disappointed at -2.1% (YoY) vs. past -0.4% and expected -0.1%. The monthly results were -1.5% vs. prior 0.6% and estimates at 0.1%. A new member was introduced, Latvia, and welcomed by the ECB President Mario Draghi. In Australia, the Aussie suffered a major sell-off across the board after weaker than expected job market results triggered a panicky reaction among market participants who rush to get rid of the currency. Indeed, at -10,800, employment failed to meet expectations at 10,000. The euro jumped from 1.420 zone to 1.4370 zone within minutes.
EUR/AUD Technical Levels
Price action reveals the pair was capped around the 1.4370 zone. A steady decline afterwards revealed bearish pressure prior to Tokyo’s opening. Offered at 1.4350, the pair aims to consolidate above that zone and oscillates between the supports at 1.4344 (September 5th lows), 1.4292 (September 8th lows), 1.4232 (September 11th lows) and resistances at 1.4417 (July 14th highs), 1.4469 (September 6th highs), 1.4535 (August 14th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis and navigates above the EMA20.