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15 Aug 2013
EUR/AUD snaps back up to 1.4530; solid 1.4450/70 support
FXstreet.com (Chicago) - EUR/AUD maintains an upward trend from a daily perspective despite the series of downside corrective swings from last week, which have been followed by tepid price action, as price keeps bouncing off 1.4450/70 support ahead of consumer inflation expectation data in Australia at 1GMT.
Price action indicates the pair attempts to break above immediate resistance at 1.4531 (August 12th lows), 1.4578 (March 21st 2010 lows) ahead of 1.4611 (August 13th highs). Supports are aligned at 1.4490 (August 13th lows), 1.4459 (July 24th lows) followed by 1.4419 (June 21st highs) on one-hour timeframe analysis.
The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis as it trades below the EMA20.
In Europe, banks are closed on Assumption Day.
Price action indicates the pair attempts to break above immediate resistance at 1.4531 (August 12th lows), 1.4578 (March 21st 2010 lows) ahead of 1.4611 (August 13th highs). Supports are aligned at 1.4490 (August 13th lows), 1.4459 (July 24th lows) followed by 1.4419 (June 21st highs) on one-hour timeframe analysis.
The FXstreet.com trend index reports the pair as slightly bearish on one-hour timeframe analysis as it trades below the EMA20.
In Europe, banks are closed on Assumption Day.