EUR/AUD post third daily gain in a row, ends far from highs

FXStreet (Córdoba) - The EUR/AUD rose again on Wednesday and finished around 1.5260, extending the recovery after falling a week ago to 1.5000. The Euro peaked during the Asian session at 1.5308 but pulled back and retreated to 1.5200 from where it bounced to the upside.

Since the American session the EUR/AUD is trading in a small range with support at 1.5240 and resistance at 1.5270.

EUR/AUD testing 1.5300

A day ago the pair Euro tested levels on top of 1.5300 but if failed to hold and pulled back. The area around 1.5300 is a key short-term resistance level: if the pair confirms above it could gain upside momentum, rallying further.

Resistance above 1.5300 could be located at 1.5355 (January 31 low, January 9 high) and 1.5420 (January 20, 21 highs). To the downside support lies at 1.5200 (February 19 low) and 1.5150.