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23 Apr 2014
EUR/AUD on the defense
FXStreet (Guatemala) - Currently, EUR/AUD is trading at 1.4740, up 0.03% on the day, having posted a daily high at 1.4747 and low at 1.4737.
EUR/AUD has been trading on the defensive at the start of this week and that will likely be carried through into the Asian market for Wednesday trading. Strategists at TDS think the EUR will trade a little more defensively ahead of the April CPI data (due April 30th), after final March numbers last week saw the core rate of inflation revised lower, somewhat unexpectedly, to 0.7% y/y, matching the series low seen at the end of last year. “Weak data will heighten speculation that the ECB may take more easing steps at the May policy meeting”.
EUR/AUD spot is in neutral territory
According to the hourly FXStreet OB/OS Index, EUR/AUD spot is in neutral territory while the FXStreet Trend Index is strongly bearish. RSI is in neutral territory at 55.30, up from it’s last hourly close at 42.72, while ADX is ranging above 30 at 16.43, up from 12.00 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 40.89. The 200 SMA is currently at 1.4777, up from 1.4763 at the last period close, and climbing on the hourly EUR/AUD chart. Moving with a downward trend, the exponential average closing price is 1.4858.
EUR/AUD Levels
Current price is 1.4743, with resistance ahead at 1.4747 (Daily High), 1.4749 (Hourly 20 EMA), 1.4760 (Daily Classic S1), 1.4763 (Hourly 200 SMA) and 1.4764 (Weekly Classic PP). Next support to the downside can be found at 1.4739 (Daily Open), 1.4738 (Weekly Low), 1.4737 (Daily Low), 1.4732 (Daily Classic S2) and 1.4717 (Yesterday's Low). Looking at price patterns, we can see a Piercing Line 1-hour candlestick formation.
EUR/AUD has been trading on the defensive at the start of this week and that will likely be carried through into the Asian market for Wednesday trading. Strategists at TDS think the EUR will trade a little more defensively ahead of the April CPI data (due April 30th), after final March numbers last week saw the core rate of inflation revised lower, somewhat unexpectedly, to 0.7% y/y, matching the series low seen at the end of last year. “Weak data will heighten speculation that the ECB may take more easing steps at the May policy meeting”.
EUR/AUD spot is in neutral territory
According to the hourly FXStreet OB/OS Index, EUR/AUD spot is in neutral territory while the FXStreet Trend Index is strongly bearish. RSI is in neutral territory at 55.30, up from it’s last hourly close at 42.72, while ADX is ranging above 30 at 16.43, up from 12.00 at the last hourly close. Looking to a daily chart, we see that RSI is neutral at 40.89. The 200 SMA is currently at 1.4777, up from 1.4763 at the last period close, and climbing on the hourly EUR/AUD chart. Moving with a downward trend, the exponential average closing price is 1.4858.
EUR/AUD Levels
Current price is 1.4743, with resistance ahead at 1.4747 (Daily High), 1.4749 (Hourly 20 EMA), 1.4760 (Daily Classic S1), 1.4763 (Hourly 200 SMA) and 1.4764 (Weekly Classic PP). Next support to the downside can be found at 1.4739 (Daily Open), 1.4738 (Weekly Low), 1.4737 (Daily Low), 1.4732 (Daily Classic S2) and 1.4717 (Yesterday's Low). Looking at price patterns, we can see a Piercing Line 1-hour candlestick formation.