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7 Jan 2015
EUR/AUD slips, back below 1.47 handle
FXStreet (Mumbai) - The single currency inched down against the Australian dollar, extending losses for the third straight session, largely on Euro weakness.
Currently, the EUR/AUD cross hits fresh session low at 1.4672, down -0.23% on the day, having posted five-week low at 1.4597 yesterday. The EUR/AUD cross remains pressured after consumer price inflation in the euro currency bloc fell into negative territory in December, for the first time since October 2009. Thus, highlighting the need for further easing from the European Central Bank (ECB).
The cross in EUR/AUD lost ground largely as EUR/USD fell to fresh nine-year lows at 1.1847 levels, down -0.34% on the day. While, AUD/USD pair remains mildly in red at 0.8073 levels, at time of writing.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4733 (Today’s High) levels, above which gains could be extended to 1.4767 (Jan 6 High) levels. On the flip side, support is seen at 1.4583 (Nov 30 Low) levels, from here it to 1.45 levels.
Currently, the EUR/AUD cross hits fresh session low at 1.4672, down -0.23% on the day, having posted five-week low at 1.4597 yesterday. The EUR/AUD cross remains pressured after consumer price inflation in the euro currency bloc fell into negative territory in December, for the first time since October 2009. Thus, highlighting the need for further easing from the European Central Bank (ECB).
The cross in EUR/AUD lost ground largely as EUR/USD fell to fresh nine-year lows at 1.1847 levels, down -0.34% on the day. While, AUD/USD pair remains mildly in red at 0.8073 levels, at time of writing.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4733 (Today’s High) levels, above which gains could be extended to 1.4767 (Jan 6 High) levels. On the flip side, support is seen at 1.4583 (Nov 30 Low) levels, from here it to 1.45 levels.