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17 Jul 2013
EUR/AUD holding above early March ascending trendline
FXstreet.com (Barcelona) - The EURAUD foreign exchange cross rate is last trading at 1.4239, unchanged since late Asian session yesterday, given same strength in both components Euro and Aussie against USD, or in other words, broad USD weakness.
EUR/AUD false 1.44 breakout?
“The crosses are giving mixed signals, EUR/GBP is definitely bullish as is EUR/AUD but there is a possibility that the break above 1.4400 was a false one?,” wonders FXWW founder Sean Lee. EUR/AUD is currently holding above a mid term ascending trend line coming from the double 1.22 low by early March, eventually broken lower last week.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at mid London session weekly lows 1.4178, followed by Thursday's lows at 1.4075, and July 05 lows at 1.4020. To the upside, closest resistance shows at July 02 highs 1.4275, followed by Monday's lows 1.4305, and July 03 highs at 1.4399.
EUR/AUD false 1.44 breakout?
“The crosses are giving mixed signals, EUR/GBP is definitely bullish as is EUR/AUD but there is a possibility that the break above 1.4400 was a false one?,” wonders FXWW founder Sean Lee. EUR/AUD is currently holding above a mid term ascending trend line coming from the double 1.22 low by early March, eventually broken lower last week.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at mid London session weekly lows 1.4178, followed by Thursday's lows at 1.4075, and July 05 lows at 1.4020. To the upside, closest resistance shows at July 02 highs 1.4275, followed by Monday's lows 1.4305, and July 03 highs at 1.4399.