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23 Feb 2015
EUR/AUD deflates from 1.4566 post German IFO
FXStreet (Mumbai) - The shared currency remained elevated versus the Australian dollar in the European session despite EUR/USD slipping to fresh lows after downbeat German Ifo data.
EUR/AUD trades around 5-DMA
Currently, the EUR/AUD cross trades higher by 0.23% at 1.4542, having posted fresh session highs at 1.4566 levels. The cross remained supported, although retreated from session highs after German Business conditions data came in below market forecasts dragging the euro lower across the board.
EUR/AUD remains supported largely on the Aussie weakness as markets speculate over another RBA rate cut in its March meeting. At the moment, the AUD/USD pair trades at 0.7790, down -0.65% on the day. While EUR/USD trades lower by -0.47% at 1.1328 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4601 levels, above which gains could be extended to 1.4619 levels. On the flip side, support is seen at 1.4526 (50-DMA) levels, from here it to 1.4478 (200-DMA) levels.
EUR/AUD trades around 5-DMA
Currently, the EUR/AUD cross trades higher by 0.23% at 1.4542, having posted fresh session highs at 1.4566 levels. The cross remained supported, although retreated from session highs after German Business conditions data came in below market forecasts dragging the euro lower across the board.
EUR/AUD remains supported largely on the Aussie weakness as markets speculate over another RBA rate cut in its March meeting. At the moment, the AUD/USD pair trades at 0.7790, down -0.65% on the day. While EUR/USD trades lower by -0.47% at 1.1328 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4601 levels, above which gains could be extended to 1.4619 levels. On the flip side, support is seen at 1.4526 (50-DMA) levels, from here it to 1.4478 (200-DMA) levels.