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20 Sep 2013
EUR/AUD on trading range below 1.4330 and EMA20
FXstreet.com (Chicago) - EUR/AUD trades sideways ahead of Tokyo’s opening and European consumer confidence data due later in the day.
Even battle?
Closing the week, the euro went back to Monday’s trading zone to accumulate 0.02% minimal gains after a series of ups and downs all throughout. Earlier European data indicates the Euro-zone is still recovering at a slow pace with consumer price indexes matching expected 1.1% growth and trade balances worse than expected. On positive Zew survey results released on Tuesday at 58.6 vs. expected 47.2 economic sentiment projections, the euro spiked, reversing the short-term downward trendline.
EUR/AUD Technical Levels
Price action reveals the extension of yesterday’s bullish rally capped at 1.4346 (session highs and double tops with September 16th highs). On a trading range and corrective move after temporarily exhausting the bullish rally, the pair is offered at 1.4336 and oscillates between supports aligned at 1.4292 (September 11th highs), 1.4233 (September 13th lows) ahead of 1.4160 (July 17th lows) and resistances set at 1.4344 (September 17th highs), 1.4417 (September 4th highs) followed by 1.4465 (September 5th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.
Even battle?
Closing the week, the euro went back to Monday’s trading zone to accumulate 0.02% minimal gains after a series of ups and downs all throughout. Earlier European data indicates the Euro-zone is still recovering at a slow pace with consumer price indexes matching expected 1.1% growth and trade balances worse than expected. On positive Zew survey results released on Tuesday at 58.6 vs. expected 47.2 economic sentiment projections, the euro spiked, reversing the short-term downward trendline.
EUR/AUD Technical Levels
Price action reveals the extension of yesterday’s bullish rally capped at 1.4346 (session highs and double tops with September 16th highs). On a trading range and corrective move after temporarily exhausting the bullish rally, the pair is offered at 1.4336 and oscillates between supports aligned at 1.4292 (September 11th highs), 1.4233 (September 13th lows) ahead of 1.4160 (July 17th lows) and resistances set at 1.4344 (September 17th highs), 1.4417 (September 4th highs) followed by 1.4465 (September 5th highs). According to the FXstreet.com trend index, the pair is slightly bullish on one-hour timeframe analysis above the EMA20.