29 Jan 2015
EUR/AUD jumps to 2-Week Highs on upbeat German jobs data
FXStreet (Mumbai) - The single currency bounced-back sharply against the Australian dollar, reversing losses from the previous session as cheerful Germany’s labour market report added to further gains in the cross.
Gains over 1%
Currently, the EUR/AUD cross trades at fresh two-week highs at 1.4478 levels, recording a 1.14% gain on the day. EUR/AUD shaved off previous losses and rebounded to fresh two week highs largely as the Aussie dived to fresh five and a half year lows at 0.7813 levels.
The gains in the cross were accelerated after the German labor market showed that the number of unemployed people in the country declined for the fourth consecutive month in January, with the overall jobless rate sticking at the recent record lows.
AS of writing, AUD/USD tumbled by 0.94% to 0.7812 levels, while EUR/USD stood higher by 0.15% at 1.1308 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4410 levels, above which gains could be extended to 1.4450 levels. On the flip side, support is seen at 1.4150 levels, from here it to 1.4123 levels.
Gains over 1%
Currently, the EUR/AUD cross trades at fresh two-week highs at 1.4478 levels, recording a 1.14% gain on the day. EUR/AUD shaved off previous losses and rebounded to fresh two week highs largely as the Aussie dived to fresh five and a half year lows at 0.7813 levels.
The gains in the cross were accelerated after the German labor market showed that the number of unemployed people in the country declined for the fourth consecutive month in January, with the overall jobless rate sticking at the recent record lows.
AS of writing, AUD/USD tumbled by 0.94% to 0.7812 levels, while EUR/USD stood higher by 0.15% at 1.1308 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4410 levels, above which gains could be extended to 1.4450 levels. On the flip side, support is seen at 1.4150 levels, from here it to 1.4123 levels.