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23 Apr 2014
EUR/AUD gained more than 100 pips on Aussie woes
FXStreet (Moscow) - EUR/AUD spiked to Asian highs at 1.4853 on the back of Australian inflation numbers, but retraced to current levels of 1.4838. The bullish bias is still strong.
Inflation is the hit of the day
EUR/AUD is a big mover today. The cross has grown more than 100 pips within an hour following the 1Q inflation data that fell short of market expectations. Weak China flash PMI added fuel to the fire of Aussie sales. It looks like hesitant Aussie bears finally found a good excuse to push the currency down. Currently EUR/AUD is trying to settle above 1.4830, the upper side of short-term range visible on 4h and daily charts. Though the success is not guaranteed yet as there are some important EZ reports to be published during European hours. Be careful, as lower that expected flash PMI numbers might trigger the short-term correction in the cross, though, the downside is likely to be limited by 1.4800. As long as EUR/AUD stays above this level, the bullish sentiments will prevail.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.4752, with the support at 1.4703, 1.4669 and 1.4620, with resistance above at 1.4835 and 1.4869. Hourly Moving Averages are bullish, with the 200SMA at 1.4766 and the daily 20EMA at 1.4847. Hourly RSI is bullish at 72.
Inflation is the hit of the day
EUR/AUD is a big mover today. The cross has grown more than 100 pips within an hour following the 1Q inflation data that fell short of market expectations. Weak China flash PMI added fuel to the fire of Aussie sales. It looks like hesitant Aussie bears finally found a good excuse to push the currency down. Currently EUR/AUD is trying to settle above 1.4830, the upper side of short-term range visible on 4h and daily charts. Though the success is not guaranteed yet as there are some important EZ reports to be published during European hours. Be careful, as lower that expected flash PMI numbers might trigger the short-term correction in the cross, though, the downside is likely to be limited by 1.4800. As long as EUR/AUD stays above this level, the bullish sentiments will prevail.
What are today’s key EUR/AUD levels?
Today's central pivot point can be found at 1.4752, with the support at 1.4703, 1.4669 and 1.4620, with resistance above at 1.4835 and 1.4869. Hourly Moving Averages are bullish, with the 200SMA at 1.4766 and the daily 20EMA at 1.4847. Hourly RSI is bullish at 72.