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20 Mar 2014
EUR/AUD bulls head for the resistance of 1.5350
FXStreet (Moscow) - EUR/AUD opened at 1.5298 and managed to climb to intraday high at 1.5356 on the back of Aussie selling across the board; currently the cross is trading at 1.5339
Aussie bears help EUR/AUD bulls
EUR/AUD managed to finish Wednesday in the green zone despite the EUR selling across the board as the Aussie tumbled much lower than the single currency. Both Australian and European calendars are empty today, so we expect that the cross movements will be shaped by speculative flows and technical factors. It is quite obvious that the Aussie sentiments have a stronger impact on EUR/AUD as the cross continues to grow in Asia. On the 4h chart the cross has broken above the sloping trend line from March 12 at 1.5298. Now the upside may accelerate to 1.5350, while the break above 1.5400 is needed to substantially improve the longer-term technical picture. The nearest support comes at 1.5320 and followed by 1.5298.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5288, with the support at 1.5252, 1.5205 and 1.5169, with resistance above at 1.5335, 1.5371 and 1.5418. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.5358 and the daily 20EMA at 1.5327. Hourly RSI is neutral at 63.
Aussie bears help EUR/AUD bulls
EUR/AUD managed to finish Wednesday in the green zone despite the EUR selling across the board as the Aussie tumbled much lower than the single currency. Both Australian and European calendars are empty today, so we expect that the cross movements will be shaped by speculative flows and technical factors. It is quite obvious that the Aussie sentiments have a stronger impact on EUR/AUD as the cross continues to grow in Asia. On the 4h chart the cross has broken above the sloping trend line from March 12 at 1.5298. Now the upside may accelerate to 1.5350, while the break above 1.5400 is needed to substantially improve the longer-term technical picture. The nearest support comes at 1.5320 and followed by 1.5298.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5288, with the support at 1.5252, 1.5205 and 1.5169, with resistance above at 1.5335, 1.5371 and 1.5418. Hourly Moving Averages are mostly bullish, with the 200SMA at 1.5358 and the daily 20EMA at 1.5327. Hourly RSI is neutral at 63.