21 Nov 2013
EUR/AUD trading range widens; pair expects 1.44 coup
FXstreet.com (Chicago) - EUR/AUD continues trading sideways as perceived on 4HR and hourly charts ahead of Tokyo’s opening and Japanese data releases.
Aussie’s status
Comments about the current strength of the Aussie continue to roll with the most recent being Australian treasury Gruen’s “uncomfortably high” price. In Europe, the latest decision to cut interest rates triggered a strong reaction and yet, 4HR and hourly charts display trendless price action since last fall from the 1.50 highs towards the end of August. Capped around the 1.4450 zone, the pair manifests triple bottoms and several visits to strong resistance. Ahead of Tokyo’s opening, the performance consolidating a reversal from Wednesday’s session lows is maintained.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4396 and oscillates between the supports aligned at 1.4381 (November 15th lows), 1.4358 (November 14th lows) ahead of 1.4326 (November 18th lows) and the resistances set at 1.4415 (November 18th highs), 1.4453 (November 15th highs) followed by 1.4478 (November 14th highs). According to the FXstreet.com trend index on one-hour timeframe analysis the pair is slightly bearish and navigates above the EMA20.
Aussie’s status
Comments about the current strength of the Aussie continue to roll with the most recent being Australian treasury Gruen’s “uncomfortably high” price. In Europe, the latest decision to cut interest rates triggered a strong reaction and yet, 4HR and hourly charts display trendless price action since last fall from the 1.50 highs towards the end of August. Capped around the 1.4450 zone, the pair manifests triple bottoms and several visits to strong resistance. Ahead of Tokyo’s opening, the performance consolidating a reversal from Wednesday’s session lows is maintained.
EUR/AUD Technical Levels
Technically speaking, the pair is offered at 1.4396 and oscillates between the supports aligned at 1.4381 (November 15th lows), 1.4358 (November 14th lows) ahead of 1.4326 (November 18th lows) and the resistances set at 1.4415 (November 18th highs), 1.4453 (November 15th highs) followed by 1.4478 (November 14th highs). According to the FXstreet.com trend index on one-hour timeframe analysis the pair is slightly bearish and navigates above the EMA20.