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7 Jan 2015
EUR/AUD trades below 50-DMA
FXStreet (Mumbai) - The EUR/AUD pair continues to trade below the 50-DMA level located at 1.4755, after having ended below the same yesterday.
The pair currently trades 0.11% higher 1.4728 levels, compared to the previous session’s close of 1.4693 levels. The sharp fall in the EUR/USD pair to nine-year low pushed the EUR/AUD cross well below its 50-DMA yesterday. However, continued to weakness in the Crude oil and other commodity prices is weighing over commodity currencies like the Aussie. Consequently, the AUD/USD pair has not been able to do much today, as it trades 0.16% lower at 0.8071 levels. Meanwhile, the EUR/USD pair is trading largely unchanged around 1.1886 levels. Thus, the EUR/AUD cross has been pushed marginally higher today.
EUR/AUD Technical Levels
The pair has an immediate resistance located at 1.4755 (50-DMA), above which gains could be extended to 1.4773 (Dec. 1 high). Meanwhile, support is seen at 1.4693 and 1.4658 levels.
The pair currently trades 0.11% higher 1.4728 levels, compared to the previous session’s close of 1.4693 levels. The sharp fall in the EUR/USD pair to nine-year low pushed the EUR/AUD cross well below its 50-DMA yesterday. However, continued to weakness in the Crude oil and other commodity prices is weighing over commodity currencies like the Aussie. Consequently, the AUD/USD pair has not been able to do much today, as it trades 0.16% lower at 0.8071 levels. Meanwhile, the EUR/USD pair is trading largely unchanged around 1.1886 levels. Thus, the EUR/AUD cross has been pushed marginally higher today.
EUR/AUD Technical Levels
The pair has an immediate resistance located at 1.4755 (50-DMA), above which gains could be extended to 1.4773 (Dec. 1 high). Meanwhile, support is seen at 1.4693 and 1.4658 levels.