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27 Aug 2013
EUR/AUD extending consolidation above 1.4800
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at 1.4809, off early NY session lows at 1.4758, little changed for the week so far, inside a tight trading range 1.4855/1.4758.
EUR/AUD tight ranges likely to stay
According to the IFRMarkets analysts the tight ranges are likely to extend, given the conflicting signals momentum studies are showing. “Scenario is usually a signal for further consolidation,” IFRMarkets said. The cross has been flat at current quote since August started, dipping to as low as 1.4450 from August 12 to August 19. No major news on schedule until later on German Ifo Business climate at 08:00 GMT.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at early NY session lows 1.4758, followed by August 06 lows at 1.4731, and August 01 lows at 1.4702. To the upside, closest resistance shows at yesterday's weekly highs 1.4747/54, followed by August 08 highs 1.4867, and August 07 highs at 1.4901.
EUR/AUD tight ranges likely to stay
According to the IFRMarkets analysts the tight ranges are likely to extend, given the conflicting signals momentum studies are showing. “Scenario is usually a signal for further consolidation,” IFRMarkets said. The cross has been flat at current quote since August started, dipping to as low as 1.4450 from August 12 to August 19. No major news on schedule until later on German Ifo Business climate at 08:00 GMT.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at early NY session lows 1.4758, followed by August 06 lows at 1.4731, and August 01 lows at 1.4702. To the upside, closest resistance shows at yesterday's weekly highs 1.4747/54, followed by August 08 highs 1.4867, and August 07 highs at 1.4901.