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10 Sep 2013
EUR/AUD holding above 1.4350 on Euro strength
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading near session highs at 1.4367, off NY session weekly highs at 1.4385, printed on the back of Euro strength in recent hours.
EUR/AUD more likely to test 1.40 than 1.45
“EUR/AUD put in a bearish weekly close and looks more likely to test 1.40 than 1.45 in coming days/weeks,” said FXWW founder Sean Lee, adding: “ I’d again look to pairs like EUR/AUD for flow-driven volatility during the Asian session.” The EUR/AUD cross is slightly higher for the week so far.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at recent session lows 1.4350, followed by Sept 04 lows at 1.4340, and yesterday's weekly lows at 1.4292. To the upside, closest resistance shows at mentioned NY session weekly highs 1.4385, followed by Thursday's highs at 1.4470, and Sept 03 lows at 1.4504.
EUR/AUD more likely to test 1.40 than 1.45
“EUR/AUD put in a bearish weekly close and looks more likely to test 1.40 than 1.45 in coming days/weeks,” said FXWW founder Sean Lee, adding: “ I’d again look to pairs like EUR/AUD for flow-driven volatility during the Asian session.” The EUR/AUD cross is slightly higher for the week so far.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at recent session lows 1.4350, followed by Sept 04 lows at 1.4340, and yesterday's weekly lows at 1.4292. To the upside, closest resistance shows at mentioned NY session weekly highs 1.4385, followed by Thursday's highs at 1.4470, and Sept 03 lows at 1.4504.