Back
12 Feb 2014
EUR/AUD is in danger zone; 1.5000 support is in sight
FXStreet (Moscow) -EUR/AUD is obviously not is good shape in Asia today as the cross started the day at 1.5087 and reached current intraday low at 1.5036 on the back of the Aussie growing across the board.
EUR/AUD is doomed to drop lower
EUR/AUD resumed the longer term downside trend after a short period of consolidation, as the cross crashed nearly 150 points lower yesterday due to general Aussie strengthening against most major currencies. From the fundamental point of view EUR/AUD long term perspectives are really sour as the Aussie enjoys positive macro statistics and receives additional support form the shift of RBA stance to neutral. EUR is deprived of such benefits as the latest marco economic data leaves much to be desired and the ECB is widely expected to extend stimulus. Today we are waiting for EZ industrial production numbers. Considering weak regional data, we won’t be much surprised by dismal numbers that will put EUR under pressure. The closest support level is 1.5020. It is followed by 1.5000. This key support level is very strong and my limit the intraday downside. The resistance comes at 1.5060 and followed by 1.5087-90.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5145, with the support at 1.5026, 1.4964 and 1.4845, with resistance above at 1.5207, 1.5326 and 1.5388. Hourly Moving Averages are bearish, with the 200SMA at 1.5252 and the daily 20EMA at 1.5317. Hourly RSI is neutral at 632.
EUR/AUD is doomed to drop lower
EUR/AUD resumed the longer term downside trend after a short period of consolidation, as the cross crashed nearly 150 points lower yesterday due to general Aussie strengthening against most major currencies. From the fundamental point of view EUR/AUD long term perspectives are really sour as the Aussie enjoys positive macro statistics and receives additional support form the shift of RBA stance to neutral. EUR is deprived of such benefits as the latest marco economic data leaves much to be desired and the ECB is widely expected to extend stimulus. Today we are waiting for EZ industrial production numbers. Considering weak regional data, we won’t be much surprised by dismal numbers that will put EUR under pressure. The closest support level is 1.5020. It is followed by 1.5000. This key support level is very strong and my limit the intraday downside. The resistance comes at 1.5060 and followed by 1.5087-90.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5145, with the support at 1.5026, 1.4964 and 1.4845, with resistance above at 1.5207, 1.5326 and 1.5388. Hourly Moving Averages are bearish, with the 200SMA at 1.5252 and the daily 20EMA at 1.5317. Hourly RSI is neutral at 632.