17 Oct 2013
EUR/AUD bouncing off 1.4142 session lows
FXstreet.com (Chicago) - EUR/AUD seems to find grounds after fall and parallel movement lasting a few hours ahead of Australian data releases.
Data recap and ahead
Ahead of vote to pass US agreement to end crisis and prevent default, market participants prepare for Australian business confidence data along manufacturing results in Europe. Earlier in the old continent, CPIs were made public matching expectations – CPI core at 1.0%.
EUR/AUD Technical Levels
Extending the bearish short-term channel, the pair continues falling breaking immediate support, now resistance, despite attempt to sustain altitudes and erase losses. Around 2-day lows yet 3-month depths, the pair remains subdued ahead of Australian data. Offered at 1.4153, the pair oscillates between supports set at 1.4080 (July 10th lows), 1.4010 (June 12th highs) ahead of 1.3921 (June 26th lows) and the resistances aligned at 1.4190 (September 18th lows), 1.4267 (October 9th lows) followed by 1.4331 (October 4th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.
Data recap and ahead
Ahead of vote to pass US agreement to end crisis and prevent default, market participants prepare for Australian business confidence data along manufacturing results in Europe. Earlier in the old continent, CPIs were made public matching expectations – CPI core at 1.0%.
EUR/AUD Technical Levels
Extending the bearish short-term channel, the pair continues falling breaking immediate support, now resistance, despite attempt to sustain altitudes and erase losses. Around 2-day lows yet 3-month depths, the pair remains subdued ahead of Australian data. Offered at 1.4153, the pair oscillates between supports set at 1.4080 (July 10th lows), 1.4010 (June 12th highs) ahead of 1.3921 (June 26th lows) and the resistances aligned at 1.4190 (September 18th lows), 1.4267 (October 9th lows) followed by 1.4331 (October 4th lows). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis below the EMA20.