17 Jan 2014
EUR/AUD is hovering around opening level of 1.5443
FXstreet.com (Moscow) - EUR/AUD is consolidating close to the opening level of 1.5443 after the violent bullish run on Thursday.
EUR/AUD may continue the upside after correction
EUR/AUD moves are in line with overall aussie-pessimistic sentiments. No wonder as the latest employment numbers spurred the speculation that the Reserve Bank of Australia may lower the cash rate at the meeting on the 7th of February. The Aussie fortunes are poor as disappointing macro data is coupled with aggressive verbal interventions of RBA officials. They are quite vocal about their concerns over the Aussie overvaluation. In this context EUR/AUD may continue growing in the long run, but on the intraday basis the consolidation and even downside correction is not completely out of the question. The key levels to keep an eye on are the support of 1.5400 and the resistance of 1.5500.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5401, with support below at 1.5291, 1.5145 and 1.5035, with resistance above at 1.5547, 1.5657, 1.5803. Hourly Moving Averages are mixed, with the 200SMA at 1.5265 and the daily 20EMA at 1.5269. Hourly RSI is neutral at 54.40.
EUR/AUD may continue the upside after correction
EUR/AUD moves are in line with overall aussie-pessimistic sentiments. No wonder as the latest employment numbers spurred the speculation that the Reserve Bank of Australia may lower the cash rate at the meeting on the 7th of February. The Aussie fortunes are poor as disappointing macro data is coupled with aggressive verbal interventions of RBA officials. They are quite vocal about their concerns over the Aussie overvaluation. In this context EUR/AUD may continue growing in the long run, but on the intraday basis the consolidation and even downside correction is not completely out of the question. The key levels to keep an eye on are the support of 1.5400 and the resistance of 1.5500.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5401, with support below at 1.5291, 1.5145 and 1.5035, with resistance above at 1.5547, 1.5657, 1.5803. Hourly Moving Averages are mixed, with the 200SMA at 1.5265 and the daily 20EMA at 1.5269. Hourly RSI is neutral at 54.40.