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26 Jan 2015
EUR/AUD trims gains, support seen at 10-DMA
FXStreet (Mumbai) - The single currency defended mild gains versus the Australian dollar during the European session as traders continued to cheer the upbeat German Ifo numbers.
Currently, the EUR/AUD cross trades higher by 0.16% at 1.4184 levels, retreating from day’s high posted at 1.4260 some hours ago. The EUR/AUD trimmed improved Ifo data-backed gains as uncertainty from the Greek elections still weighed on the markets.
Meanwhile, markets now turn their attention towards a host of crucial economic releases later this week, including Australian business confidence numbers tomorrow and CPI print on Wednesday, for further momentum on the cross.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4214 levels, above which gains could be extended to 1.4360 levels. On the flip side, support is seen at 1.4157 (10-DMA) levels, from here it to 1.4123 (Today’ Low) levels.
Currently, the EUR/AUD cross trades higher by 0.16% at 1.4184 levels, retreating from day’s high posted at 1.4260 some hours ago. The EUR/AUD trimmed improved Ifo data-backed gains as uncertainty from the Greek elections still weighed on the markets.
Meanwhile, markets now turn their attention towards a host of crucial economic releases later this week, including Australian business confidence numbers tomorrow and CPI print on Wednesday, for further momentum on the cross.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4214 levels, above which gains could be extended to 1.4360 levels. On the flip side, support is seen at 1.4157 (10-DMA) levels, from here it to 1.4123 (Today’ Low) levels.