Back
13 Aug 2013
EUR/AUD in escape velocity, overtakes 1.4600
FXstreet.com (New York) - The EUR/AUD technical cross has been on the warpath Tuesday morning, relentlessly moving higher after last weeks cataclysmic plunge off the 1.4700 region.
EUR/AUD event risk
The EUR will continue to face the lingering specter of Greece and its malignant financial woes, which should help temper any upside in the near-term. In terms of data, later today at 06:00 GMT, Germany is slated to release several CPI indicators that are more than capable of providing the impetus for a retracement.
EUR/AUD technical levels
Technically speaking, the EUR/AUD is recording robust gains of +0.45% above it’s opening, navigating the region of 1.4604 in these moments and establishing fresh highs during Asian trading. The EUR/AUD blew past its 200-day SMA, which insulates the pair nicely and provides a nice buffer for any retracement in the near-term. On the ascension, resistances will trigger at 1.4612 (July 31 low), onto 1.4645 (July 30 high).
EUR/AUD event risk
The EUR will continue to face the lingering specter of Greece and its malignant financial woes, which should help temper any upside in the near-term. In terms of data, later today at 06:00 GMT, Germany is slated to release several CPI indicators that are more than capable of providing the impetus for a retracement.
EUR/AUD technical levels
Technically speaking, the EUR/AUD is recording robust gains of +0.45% above it’s opening, navigating the region of 1.4604 in these moments and establishing fresh highs during Asian trading. The EUR/AUD blew past its 200-day SMA, which insulates the pair nicely and provides a nice buffer for any retracement in the near-term. On the ascension, resistances will trigger at 1.4612 (July 31 low), onto 1.4645 (July 30 high).