EUR/AUD ends day sharply lower, Aussie employment data in focus

FXstreet.com (Barcelona) - The EUR/AUD finished the session down 72 pips at 1.2394. Many attributed the weakness due to the Trade Data out of China which showed stronger imports than forecast and helped the Aussie maintain a bid across the board for much of the day. Market participants should be aware of the employment data coming out of Australia at 1:30 GMT which may have an impact on the pair later in the session.

From a technical perspective, the pair did find support at 1.2380 (the 9day moving average on daily chart). The pair has routinely used this moving average as support/resistance in the past so it is worth noting during the coming sessions.

The FXStreet.com Trend Index is slightly bearish on both the 1hour and 4 hour charts. First support comes in at 1.2380 (9 day moving average on daily), followed by 1.2340 (previous resistance, now support on daily chart). First resistance sits at 1.2420 (the 20 day moving average on hourly chart), followed by 1.2450 (the 50 day moving average on hourly chart.