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23 Jan 2015
EUR/AUD turns positive
FXStreet (Mumbai) - The EUR/AUD pair has recovered losses to trade positive as the Aussie continues to tank on increased speculation that the Reserve Bank of Australia would be the next central bank to announce an interest rate cut.
The pair now trades 0.16% higher at 1.4183 levels, after having recovered from the low of 1.3968 seen earlier today. Moreover, the AUD/USD pair is now down 1.27% lower at 0.7921 levels. The Aussie and other commodity currencies have come under intense pressure against the USD after the Bank of Canada surprised markets by announcing an interest rate cut earlier this week in order to counter the effect of sliding oil prices.Meanwhile, the EUR/USD pair has weakened 1.1234 levels as markets cheer ECB’s QE, while pricing-in a cautious tone ahead of Sunday’s Greek elections.
EUR/AUD Technical Levels
The pair has an immediate resistance located at 1.4206 (10-DMA), above which gains could be extended to 1.4223 (Nov 13 low). Meanwhile, support is seen at 1.4054 and 1.3961 levels.
The pair now trades 0.16% higher at 1.4183 levels, after having recovered from the low of 1.3968 seen earlier today. Moreover, the AUD/USD pair is now down 1.27% lower at 0.7921 levels. The Aussie and other commodity currencies have come under intense pressure against the USD after the Bank of Canada surprised markets by announcing an interest rate cut earlier this week in order to counter the effect of sliding oil prices.Meanwhile, the EUR/USD pair has weakened 1.1234 levels as markets cheer ECB’s QE, while pricing-in a cautious tone ahead of Sunday’s Greek elections.
EUR/AUD Technical Levels
The pair has an immediate resistance located at 1.4206 (10-DMA), above which gains could be extended to 1.4223 (Nov 13 low). Meanwhile, support is seen at 1.4054 and 1.3961 levels.