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15 Jul 2013
EUR/AUD slips below 1.4400
FXstreet.com (Barcelona) - The EURAUD foreign exchange cross rate is last trading at 1.4368, off session lows at 1.4334, down -0.5% so far for the session, following China GDP data released at 7.5% for 2Q y/y.
EUR/AUD SMA's starting to trend north
According to Andrew Spencer from IFR Markets, EUR/AUD's “Momentum studies are positive,” with “5, 10 & 20 dma's starting to trend north," the analyst said, adding that “Market remains skeptical of China data/growth & AUD as a proxy.” The cross is still up +14.08% in last 6 months, mostly on the back of massive Aussie weakness.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at recent session lows 1.4334, followed by Friday's lows/Wed's Asian session highs at 1.4233, and July 09 highs at 1.4153. To the upside, closest resistance shows at current levels as Fri's NY session lows 1.4340, followed by intraday level at 1.4420, and Fri's fresh 3-year highs at 1.4480.
EUR/AUD SMA's starting to trend north
According to Andrew Spencer from IFR Markets, EUR/AUD's “Momentum studies are positive,” with “5, 10 & 20 dma's starting to trend north," the analyst said, adding that “Market remains skeptical of China data/growth & AUD as a proxy.” The cross is still up +14.08% in last 6 months, mostly on the back of massive Aussie weakness.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at recent session lows 1.4334, followed by Friday's lows/Wed's Asian session highs at 1.4233, and July 09 highs at 1.4153. To the upside, closest resistance shows at current levels as Fri's NY session lows 1.4340, followed by intraday level at 1.4420, and Fri's fresh 3-year highs at 1.4480.