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24 Feb 2015
EUR/AUD unperturbed by German growth figures
FXStreet (Mumbai) - The shared currency remained elevated versus the Australian dollar in the European session after final reading of German Q4 2014 GDP numbers.
EUR/AUD trades below 10-DMA
Currently, the EUR/AUD cross trades higher by 0.32% at 1.4572, having posted fresh session highs at 1.4602 levels earlier in the day. The cross remained lifted, little changed after German Economic output posted 0.7% growth in Q4 2014, after showing a meagre 0.1% improvement in Q3. The reading was in line with the market expectations and confirmed preliminary data.
EUR/AUD remains supported largely on the Aussie weakness as the AUD fell on the back of falling NZD/USD. The cross seems to trade higher with the main market driver being the semi-annual testimony on the economy and monetary policy from the Fed Chair Janet Yellen.
At the moment, the AUD/USD pair trades at 0.7776, down -0.34% on the day. While EUR/USD trades flat at 1.1328 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4602 levels, above which gains could be extended to 1.4619 levels. On the flip side, support is seen at 1.4517 (50-DMA) levels, from here it to 1.4478 (200-DMA) levels.
EUR/AUD trades below 10-DMA
Currently, the EUR/AUD cross trades higher by 0.32% at 1.4572, having posted fresh session highs at 1.4602 levels earlier in the day. The cross remained lifted, little changed after German Economic output posted 0.7% growth in Q4 2014, after showing a meagre 0.1% improvement in Q3. The reading was in line with the market expectations and confirmed preliminary data.
EUR/AUD remains supported largely on the Aussie weakness as the AUD fell on the back of falling NZD/USD. The cross seems to trade higher with the main market driver being the semi-annual testimony on the economy and monetary policy from the Fed Chair Janet Yellen.
At the moment, the AUD/USD pair trades at 0.7776, down -0.34% on the day. While EUR/USD trades flat at 1.1328 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4602 levels, above which gains could be extended to 1.4619 levels. On the flip side, support is seen at 1.4517 (50-DMA) levels, from here it to 1.4478 (200-DMA) levels.