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18 Sep 2013
EUR/AUD lifts modestly after data-induced wild swings early Wednesday
FXstreet.com (Barcelona) - Traders batted the EUR/AUD cross all over the place following the release of Australian data. More range-bound action expected.
EUR/AUD traders reacting to leading economic data out of Australia
Australian Leading Indicators and the Westpac Leading Index provided worse and then better than expected numbers respectively Wednesday morning – forcing the EUR/AUD higher, then lower in reaction – with a very small net gain being the result as of 02:46 GMT. There are not any more market-moving data releases from Australia and Europe until early Thursday.
Technical outlook for EUR/AUD
Technicians say resistance for EUR/AUD comes in at the 9/12 high of 1.4401 – and they feel that really should be it on the upside for the short-term. Support in the short-term comes in at 1.4236 – and there is open air below that.
EUR/AUD traders reacting to leading economic data out of Australia
Australian Leading Indicators and the Westpac Leading Index provided worse and then better than expected numbers respectively Wednesday morning – forcing the EUR/AUD higher, then lower in reaction – with a very small net gain being the result as of 02:46 GMT. There are not any more market-moving data releases from Australia and Europe until early Thursday.
Technical outlook for EUR/AUD
Technicians say resistance for EUR/AUD comes in at the 9/12 high of 1.4401 – and they feel that really should be it on the upside for the short-term. Support in the short-term comes in at 1.4236 – and there is open air below that.