2 Sep 2013
EUR/AUD dumped to 10-day lows
FXstreet.com (Chicago) - EUR/AUD dropped to 10-day lows at the release of Australian data to break 1.4750 key support (August 20th, August 22nd, session lows) and reach 1.4748 depths.
Winds of war ease off, Aussie edges higher
Australian data showed improvement with the AiG performance of manufacturing index for August at 46.4 vs. previous 42.0. TD securities inflation (MoM) was 0.1% vs. previous 0.5% while building permits (MoM) along company gross operating profits (QoQ) and RBA commodity index SDR are expected at 1:30. The Aussie strengthened over the weekend on gold drop and after the UN announced it needed at least 2 weeks to complete the chemical weapon assessment in Syria. In the US, the president wants lawmakers’ approval to attack the Middle Eastern country. In Europe, Markit manufacturing data is to be released later in the day.
EUR/AUD Technical Levels
Price action reveals heavy selling with gap at opening of Tokyo’s session. At 1.4754, the pair oscillates between supports at 1.4750 (August 22nd lows), 1.4716 (August 19th lows) ahead of 1.4678 (August 8th lows) and resistances at 1.4784 (August 21st lows), 1.4831 (August 20th highs) followed by 1.4867 (August 29th highs). Reported as slightly bearish on one-hour timeframe by the FXstreet.com trend index, the pair is offered below the EMA20.
Winds of war ease off, Aussie edges higher
Australian data showed improvement with the AiG performance of manufacturing index for August at 46.4 vs. previous 42.0. TD securities inflation (MoM) was 0.1% vs. previous 0.5% while building permits (MoM) along company gross operating profits (QoQ) and RBA commodity index SDR are expected at 1:30. The Aussie strengthened over the weekend on gold drop and after the UN announced it needed at least 2 weeks to complete the chemical weapon assessment in Syria. In the US, the president wants lawmakers’ approval to attack the Middle Eastern country. In Europe, Markit manufacturing data is to be released later in the day.
EUR/AUD Technical Levels
Price action reveals heavy selling with gap at opening of Tokyo’s session. At 1.4754, the pair oscillates between supports at 1.4750 (August 22nd lows), 1.4716 (August 19th lows) ahead of 1.4678 (August 8th lows) and resistances at 1.4784 (August 21st lows), 1.4831 (August 20th highs) followed by 1.4867 (August 29th highs). Reported as slightly bearish on one-hour timeframe by the FXstreet.com trend index, the pair is offered below the EMA20.