13 May 2013
Forex: EUR/AUD high 1.3011
FXstreet.com (London) - The EUR/AUD has extended its bull run above 1.3000 psychological level for a second time this month, pairing it’s highs of summer and May 2012 and eyes for a run up towards 1.3200 the figure.
A factor aiding the pairs strength would be the RBA’s surprise easing of late, where rates were cut by 25 basis points. On Feb this year, we saw a high of 1.3190. A current chart formation is creating a feasible technical analyses that points towards an extension of the recent run up towards these highs with a piercing line offering a significant bullish signal. At the time of writing, the pair is trading slightly below the figure 1.2991 with hourly indicators giving a bullish signal. Support seen 1.2950 and the figure 1.2900.
A factor aiding the pairs strength would be the RBA’s surprise easing of late, where rates were cut by 25 basis points. On Feb this year, we saw a high of 1.3190. A current chart formation is creating a feasible technical analyses that points towards an extension of the recent run up towards these highs with a piercing line offering a significant bullish signal. At the time of writing, the pair is trading slightly below the figure 1.2991 with hourly indicators giving a bullish signal. Support seen 1.2950 and the figure 1.2900.