26 Jul 2013
EUR/AUD hanging above 1.4350
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at 1.4369, off recent session lows at 1.4317, a +0.31% higher for the week so far.
EUR/AUD top in place
“Looking at EUR/AUD, there is a top in place at 1.4450/75 but it’s Friday and we are not that far away from there,” said FXWW founder Sean Lee, adding: “I don’t like the idea of selling here at 1.4375; best to wait and see if we get another topside test to take out likely stops above 1.4480 and then sell into that spike near 1.4500/25?.”
EUR/AUD key technical levels
Immediate resistance to the upside for EUR/AUD shows at July 03 highs 1.4399, followed by July 15/yesterday's highs at 1.4448/56, and July 12 highs at 1.4481. To the downside, closest support lies at Monday's highs 1.4335,. followed by mentioned session lows at 1.4317, and July 17 lows at 1.4296.
EUR/AUD top in place
“Looking at EUR/AUD, there is a top in place at 1.4450/75 but it’s Friday and we are not that far away from there,” said FXWW founder Sean Lee, adding: “I don’t like the idea of selling here at 1.4375; best to wait and see if we get another topside test to take out likely stops above 1.4480 and then sell into that spike near 1.4500/25?.”
EUR/AUD key technical levels
Immediate resistance to the upside for EUR/AUD shows at July 03 highs 1.4399, followed by July 15/yesterday's highs at 1.4448/56, and July 12 highs at 1.4481. To the downside, closest support lies at Monday's highs 1.4335,. followed by mentioned session lows at 1.4317, and July 17 lows at 1.4296.