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3 Mar 2015
EUR/AUD falls to 1-month lows after RBA
FXStreet (Córdoba) - The EUR/AUD dropped sharply more than a hundred pips after the decision of the Reserve Bank of Australia to leave rates unchanged. Price fell from 1.4400 to 1.4270, reaching the lowest level since January 28.
From the lows it bounced modestly but found resistance at 1.4320 and currently trades at 1.4300. After rising on Asian hours boosted by the inaction of the RBA, the aussie lost strength during the European session but a weak euro kept the recovery of EUR/AUD limited.
EUR/AUD technical levels
To the upside, immediate resistance lies at 1.4325 (European session high), 1.4360 (Feb 25 low) and 1.4420/25 (March 2 high). On the opposite direction support could be located at 1.4280, 1.4255 and 1.4160 (Jan 28 low).
From the lows it bounced modestly but found resistance at 1.4320 and currently trades at 1.4300. After rising on Asian hours boosted by the inaction of the RBA, the aussie lost strength during the European session but a weak euro kept the recovery of EUR/AUD limited.
EUR/AUD technical levels
To the upside, immediate resistance lies at 1.4325 (European session high), 1.4360 (Feb 25 low) and 1.4420/25 (March 2 high). On the opposite direction support could be located at 1.4280, 1.4255 and 1.4160 (Jan 28 low).