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19 Feb 2014
EUR/AUD bounces and rises for the second day in row
FXStreet (Córdoba) - The EUR/AUD reversed sharply and soared posting strong gains on Tuesday, ending above 1.5230. Early in Asia reached a fresh high at 1.5259, approaching 1.5300.
Yesterday after the release of RBA minutes the EUR/AUD dropped to 1.5085, reaching a 3-day low but bounced to the upside, climbing more than 150 pips from the lows, rising to levels not seen since last Friday.
EUR/AUD still sideways, near resistance
On a wider view the EUR/AUD continues to trade within last week range, moving sideways. The 1.5300 is a key resistance area and a consolidation above should signal a bullish continuation. While to the downside, there are many support levels ahead of the key 1.5000 zone.
Ahead of Tokyo’s opening the EUR/AUD is trading at 1.5253 up 0.53% and a hundred pips above the price it had at the beginning of the week.
Yesterday after the release of RBA minutes the EUR/AUD dropped to 1.5085, reaching a 3-day low but bounced to the upside, climbing more than 150 pips from the lows, rising to levels not seen since last Friday.
EUR/AUD still sideways, near resistance
On a wider view the EUR/AUD continues to trade within last week range, moving sideways. The 1.5300 is a key resistance area and a consolidation above should signal a bullish continuation. While to the downside, there are many support levels ahead of the key 1.5000 zone.
Ahead of Tokyo’s opening the EUR/AUD is trading at 1.5253 up 0.53% and a hundred pips above the price it had at the beginning of the week.