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26 Feb 2015
EUR/AUD recovers from session lows at 1.4463 after German Gfk data
FXStreet (Mumbai) - The shared currency recovered from session lows versus the Australian dollar after better than expected German Gfk consumer climate data.
EUR/AUD rises from 1.4463 levels post data
Currently, the EUR/AUD cross trades higher by 0.49% at 1.4475, having posted fresh session lows at 1.4463 levels before data release. The cross remained supported and recovered lost gains after cheerful German consumer conditions data showed that consumer’s economic conditions improved in February beating market estimates.
EUR/AUD remains elevated largely on the Aussie weakness as markets speculate over another RBA rate cut in its March meeting after private investments fell sharply in Q4 2014. At the moment, the AUD/USD pair trades at 0.7853, down -0.42% on the day. While EUR/USD trades flat at 1.1364 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4500 levels, above which gains could be extended to 1.4594 levels. On the flip side, support is seen at 1.4409 levels, from here it to 1.4363 levels.
EUR/AUD rises from 1.4463 levels post data
Currently, the EUR/AUD cross trades higher by 0.49% at 1.4475, having posted fresh session lows at 1.4463 levels before data release. The cross remained supported and recovered lost gains after cheerful German consumer conditions data showed that consumer’s economic conditions improved in February beating market estimates.
EUR/AUD remains elevated largely on the Aussie weakness as markets speculate over another RBA rate cut in its March meeting after private investments fell sharply in Q4 2014. At the moment, the AUD/USD pair trades at 0.7853, down -0.42% on the day. While EUR/USD trades flat at 1.1364 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4500 levels, above which gains could be extended to 1.4594 levels. On the flip side, support is seen at 1.4409 levels, from here it to 1.4363 levels.