Tag Archives: EUR/AUD
Asian Market Summary
EUR opened on a firm footing in Asia after progress was made yesterday in the Greek debt swap deal on confirmed reports that an austerity agreement was being drafted and would be presented to the cabinet today.
EUR/AUD Analysis
(1,2215) EUR/AUD confirmed further weakness and a new low at 1,2133 before bouncing higher. Still possible further weakness toward the 1,20 area while below 1,2270 on daily closing!!
Technical Analysis
The positive vibes ending last week seems to be prevailing, perhaps except the euro that has continued to slide after the topside failure. EURUSD still trapped in the 1.3026/1.3219 range but with a negative undertone, EURAUD have broken to a multi decades low,
European Market Analysis
EUR/USD – leveraged sellers cited for adding the extra weight to take rate through its overnight low at $1.2760, with stops adding to the selling to take rate down to $1.2748 ($1.2749 61.8% $1.2720/96). Rate currently trades around $1.2752
EUR/AUD ANALYSIS
EUR/AUD confirmed on Wednesday an undershooting of the support line at 1,3085 but since then it managed to remain above that line. We expect a firm rebound for this cross at least for a retest of the 200 days line at 1,3535.
FX Markets Today – National Australia Bank
At 1.3525 and 1.0150, respectively, both the EUR and AUD are around a cent above yesterday’s lows (a five-week low in the case of the single-currency).
Daily FX Technical Strategy – Temporary risk reprieve
Spike lows in a number of currency pairs yesterday, particularly euro-related, imply bargain hunting. However, with the exception EUR/AUD (where there was a Key Day), there is a lack of compelling evidence for a sustainable recovery. Consequently, we see the bounce as a relief rally that ultimately will set up more weakness, and we would […]