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19 May 2014
EUR/AUD consolidating the offers
FXStreet (Guatemala) - EUR/AUD had a difficult time through 1.47 at the close of last weeks business and remains in offered territory into this week, head of key releases on the docket for the pair.
EUR/AUD is range trading with the build up of offers behind it with a quiet calendar from the off today. Sean Callow, analyst at Westpac Banking Corporation ABN explained that the Aussie is range-trading today but its resilience in the face of softer key commodity prices might start to encourage some more selling near term, “Especially if iron ore breaks $100/tonne”.
EUR/AUD awaits ECB speeches
Sean Callow, analyst at Westpac Banking Corporation ABN continued and noted that Australia’s calendar is quiet ahead of Tue’s RBA minutes and Wed’s consumer sentiment and wages data. “The main focus should be on the ECB, with speeches by three influential members today, starting with Bundesbank chief Weidmann at 5pm Syd/3pm Sing/HK, followed in the European morning by two of the Executive Board members, Mersch and Coeure”.
EUR/AUD bearish bias
EUR/AUD daily EMA’s are signalling a bearish bias while the RSI (14) on the hourly is reading 47.78. Support is 1.4620 ahead of 1.46 handle and psychological level with1.4580 following and 1.4535/12.
EUR/AUD is range trading with the build up of offers behind it with a quiet calendar from the off today. Sean Callow, analyst at Westpac Banking Corporation ABN explained that the Aussie is range-trading today but its resilience in the face of softer key commodity prices might start to encourage some more selling near term, “Especially if iron ore breaks $100/tonne”.
EUR/AUD awaits ECB speeches
Sean Callow, analyst at Westpac Banking Corporation ABN continued and noted that Australia’s calendar is quiet ahead of Tue’s RBA minutes and Wed’s consumer sentiment and wages data. “The main focus should be on the ECB, with speeches by three influential members today, starting with Bundesbank chief Weidmann at 5pm Syd/3pm Sing/HK, followed in the European morning by two of the Executive Board members, Mersch and Coeure”.
EUR/AUD bearish bias
EUR/AUD daily EMA’s are signalling a bearish bias while the RSI (14) on the hourly is reading 47.78. Support is 1.4620 ahead of 1.46 handle and psychological level with1.4580 following and 1.4535/12.