EUR/AUD finds double top ahead of 1.50

FXstreet.com (Chicago) - EUR/AUD prints 0.65% gains accumulated so far as Tuesday’s trading session prepares for closing. The Aussie, risk barometer for geopolitical crisis was slammed throughout the journey, facilitating bulls to push the euro higher ahead of plethora of data due in the Euro-zone later this week.

Plethora of EU data

Money supply data is due tomorrow morning in the European Union ahead of Spanish GDP results and business confidence indexes for Portugal and Italy as well as the Euro-zone. Australia is to publish its private capital expenditures on Thursday and private sector credit results on Friday. Earlier in Europe, Germany released IFO results with the current assessment at 112.0 vs. expected 110.9 and previous 110.1 and business climate results marking improvements in confidence vote up to 107.5 vs. previous 106.2. IFO Expectations for August were 103.3 vs. previous 102.4 and projections at 103.0.

EUR/AUD Technical Levels

Reaching double top at 1.4965, the pair flows between supports at 1.4867 (session lows), 1.4831 (August 20th highs) ahead of 1.4758 (August 26th lows) and resistances at 1.49 (August 26th highs), 1.4940 (August 21st highs) followed by 1.4995 (August 2nd highs). According to the FXstreet.com trend index, the pair is slightly bearish on one-hour timeframe analysis, trading below the EMA20.