FXstreet.com (Barcelona) - EUR/AUD is last at 1.3491, off yesterday's
fresh 1.5-year highs at 1.3541, up +0.66% for the week so far, +6.27%
year to date, and +8.25% in last 6 months. As IFR Markets analyst Andrew
Spencer points out, it has been already 8 weeks of higher lows in the
cross.
“EUR/AUD continues to march higher and barring any
unexpected negative news from the EZ, my technical target at 1.38 looks
very achievable,” said FXWW founder Sean Lee,
reporting stop loss orders above the 0.9720 level in the AUD/USD.
Private sector credit data in Australia came in line with expectations
at +0.3%, slightly above last 3 months, leaving Aussie muted on the
news.
Immediate resistance to the upside for EUR/AUD shows at
recent session highs 1.3524, followed by yesterday's fresh 1.5-year
highs at 1.3542, and Sept 2010 lows at 1.3629. To the downside, closest
support lies at current levels as Wednesday's highs 1.3475, followed by
Monday's highs at 1.3450, and Friday's highs at 1.3433.
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