16 Oct 2013
EUR/AUD bulls hanging on by their fingernails; need 1.4192 to hold
FXstreet.com (Barcelona) - EUR/AUD remains under major pressure early Wednesday and the bulls are having to work awfully hard just to hold the cross above support at 1.4192.
EUR/AUD traders to focus on European data in the coming hours
For the rest of the Wednesday session, EUR/AUD traders will be reacting to EuroZone CPI and trade balance data and will be watching technical levels (see below).
Technical outlook for EUR/AUD
Technicians say the EUR/AUD cross could really accelerate to the down side if 1.4192 fails to hold up as support. The next projected target would be 1.3835 if 1.4192 falls by the wayside. Resistance for the cross comes in at 1.4379 – Monday’s high.
EUR/AUD traders to focus on European data in the coming hours
For the rest of the Wednesday session, EUR/AUD traders will be reacting to EuroZone CPI and trade balance data and will be watching technical levels (see below).
Technical outlook for EUR/AUD
Technicians say the EUR/AUD cross could really accelerate to the down side if 1.4192 fails to hold up as support. The next projected target would be 1.3835 if 1.4192 falls by the wayside. Resistance for the cross comes in at 1.4379 – Monday’s high.