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20 Feb 2014
EUR/AUD is running high; 1.5400 resistance is in sight
FXStreet (Moscow) - EUR/AUD left the resistance of 1.5300 behind, broke another resistance at 1.5350 and went on growing on a mixture of technical and fundamental factors.
EUR/AUD took the Chinese data close to heart
EUR/AUD was sitting quietly in a narrow range during early Asian hours, but Chinese Flash PMI broke the peace of consolidation and set the cross on fire. This report provided just another evidence that the Chinese economy is slowing down. This is another disturbing signal among the string of poor economic statistics from China. The Aussie is badly hurt as the Australian economy is dependent on the demand from China. Moreover signs of softening Chinese economy spooked investors and triggered the new wave of anti-risk sentiments, which is also negative for Aussie. Currently the cross is moving closer to the resistance level of 1.5400 that is likely to cap the upside for the time being. The closest support comes at 1.5350 and followed by 1.5300.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5259, with the support at 1.5203, 1.5147 and 1.5091, with resistance above at 1.5315, 1.5271 and 1.5427. Hourly Moving Averages are bullish, with the 200SMA at 1.5185 and the daily 20EMA at 1.5261. Hourly RSI is neutral at 77.
EUR/AUD took the Chinese data close to heart
EUR/AUD was sitting quietly in a narrow range during early Asian hours, but Chinese Flash PMI broke the peace of consolidation and set the cross on fire. This report provided just another evidence that the Chinese economy is slowing down. This is another disturbing signal among the string of poor economic statistics from China. The Aussie is badly hurt as the Australian economy is dependent on the demand from China. Moreover signs of softening Chinese economy spooked investors and triggered the new wave of anti-risk sentiments, which is also negative for Aussie. Currently the cross is moving closer to the resistance level of 1.5400 that is likely to cap the upside for the time being. The closest support comes at 1.5350 and followed by 1.5300.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.5259, with the support at 1.5203, 1.5147 and 1.5091, with resistance above at 1.5315, 1.5271 and 1.5427. Hourly Moving Averages are bullish, with the 200SMA at 1.5185 and the daily 20EMA at 1.5261. Hourly RSI is neutral at 77.