19 Dec 2014
EUR/AUD extends losses below 10-DMA
FXStreet (Mumbai) - The EUR/AUD extended losses after failing earlier today to rise above the 10-DMA located at 1.5039 levels.
The pair currently trades 0.30% lower at 1.5005 levels, compared to the previous close of 1.0546 levels. The single currency has weakened for the third consecutive day against the Aussie as markets bet the European Central Bank (ECB) would announce sovereign QE in Q1 2015. Meanwhile, the Australian dollar has gained strength against the US dollar tracking the return of risk appetite in the Australian equities. The ASX 200 was up 73 points or 1.4% earlier today.
EUR/AUD Technical Levels
The pair has an immediate support located at 1.5, under which losses could be extended to 1.4978 levels. Meanwhile, resistance is located at 1.5039 (10-DMA) and 1.51 levels.
The pair currently trades 0.30% lower at 1.5005 levels, compared to the previous close of 1.0546 levels. The single currency has weakened for the third consecutive day against the Aussie as markets bet the European Central Bank (ECB) would announce sovereign QE in Q1 2015. Meanwhile, the Australian dollar has gained strength against the US dollar tracking the return of risk appetite in the Australian equities. The ASX 200 was up 73 points or 1.4% earlier today.
EUR/AUD Technical Levels
The pair has an immediate support located at 1.5, under which losses could be extended to 1.4978 levels. Meanwhile, resistance is located at 1.5039 (10-DMA) and 1.51 levels.