Back
29 Aug 2013
EUR/AUD fails at 1.50 big round number
FXstreet.com (Chicago) - EUR/AUD accumulated small gains as worldwide concerns by the Syrian conflict seemed to have diminished for the time being, although reports still suggest a strike might be hours/days away. Although the euro strengthened against the Aussie, the pair remains capped by offers at 1.4927 despite reaching 1.50 earlier in Wednesday.
Is there relief?
Earlier in Europe, the M3 Money Supply growth (3m) was released at 2.5% vs. previous 2.8%. The annual result was 2.2% vs. previous 2.4% and estimates at 2.0%. Private loans decreased to -1.9% compared to previous -1.6% results and estimates at -1.5%. In Italy retail sales (MoM) declined to -0.2% compared to 0.1% from the past month. Finally, in Germany, the import price index (MoM) was 0.3% vs. previous -0.8% and projections at 0.2%. Market participants wait for HIA new home sales data and private capital expenditures for the second quarter of the year in Australia now.
The markets in Europe closed with losses yesterday with the CAC40 down 0.21%, the DAX down 1.03% and the Euronext 100 down 0.20%. The situation in Syria seems to worsen as the UK, France and the US are potentially preparing retaliation against the Syrian government after the alleged use of chemical weapons last week. Nonetheless, market participants seem less concerned by the tensions, at least momentarily despite the UN announcement explaining how most UN members will be out of Syria by the end of the weekend.
EUR/AUD Technical Levels
Technically speaking, the pair trades at 1.4913 between supports at 1.4867 (August 27th lows), 1.4831 (August 20th highs) ahead of 1.4758 (August 26th lows) and resistances at 1.4927 (August 22nd highs), 1.50 (August 2nd highs) followed by 1.5031 (session highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20. Price action reveals a bounce off 1.4916 intraday lows of about 38.2% after retracing from 1.50 zone earlier today.
Is there relief?
Earlier in Europe, the M3 Money Supply growth (3m) was released at 2.5% vs. previous 2.8%. The annual result was 2.2% vs. previous 2.4% and estimates at 2.0%. Private loans decreased to -1.9% compared to previous -1.6% results and estimates at -1.5%. In Italy retail sales (MoM) declined to -0.2% compared to 0.1% from the past month. Finally, in Germany, the import price index (MoM) was 0.3% vs. previous -0.8% and projections at 0.2%. Market participants wait for HIA new home sales data and private capital expenditures for the second quarter of the year in Australia now.
The markets in Europe closed with losses yesterday with the CAC40 down 0.21%, the DAX down 1.03% and the Euronext 100 down 0.20%. The situation in Syria seems to worsen as the UK, France and the US are potentially preparing retaliation against the Syrian government after the alleged use of chemical weapons last week. Nonetheless, market participants seem less concerned by the tensions, at least momentarily despite the UN announcement explaining how most UN members will be out of Syria by the end of the weekend.
EUR/AUD Technical Levels
Technically speaking, the pair trades at 1.4913 between supports at 1.4867 (August 27th lows), 1.4831 (August 20th highs) ahead of 1.4758 (August 26th lows) and resistances at 1.4927 (August 22nd highs), 1.50 (August 2nd highs) followed by 1.5031 (session highs). According to the FXstreet.com trend index, the pair is strongly bearish on one-hour timeframe analysis and is offered below the EMA20. Price action reveals a bounce off 1.4916 intraday lows of about 38.2% after retracing from 1.50 zone earlier today.