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19 Apr 2013
Forex: EUR/AUD to session lows on Aussie strength
FXstreet.com (Barcelona) - EUR/AUD is last at fresh session lows around the 1.2670 level, off session highs at 1.2695, on the back of recent Aussie strength, with AUD/USD printing fresh session highs shy of 1.0320. The cross keeps struggling below the key 50% Fibo retrace of the 1.32/1.22 leg down at the 1.27 handle since it first touched it on Tuesday since mid March.
The cross retraces from Wednesday's weekly highs at 1.2735, which also happens to being former descending trendline from the early Feb 2013 highs around the 1.32 level. While writing, as AUD/USD strengthens further above the 1.0330, the EUR/AUD cross prints fresh session lows below the 1.2660, last at 1.2655. The EUR/USD also pushes to the upside, but with less vigor than AUD/USD.
Immediate support to the downside for EUR/AUD lies at yesterday's/Wednesday's lows 1.2620, followed by Tuesday's lows at 1.2590, and April 05 highs at 1.2566. To the upside, closest resistance shows at Monday's highs 1.2675, followed by yesterday's highs at 1.2711, and Wednesday's fresh 5-week highs at 1.2735/40.
The cross retraces from Wednesday's weekly highs at 1.2735, which also happens to being former descending trendline from the early Feb 2013 highs around the 1.32 level. While writing, as AUD/USD strengthens further above the 1.0330, the EUR/AUD cross prints fresh session lows below the 1.2660, last at 1.2655. The EUR/USD also pushes to the upside, but with less vigor than AUD/USD.
Immediate support to the downside for EUR/AUD lies at yesterday's/Wednesday's lows 1.2620, followed by Tuesday's lows at 1.2590, and April 05 highs at 1.2566. To the upside, closest resistance shows at Monday's highs 1.2675, followed by yesterday's highs at 1.2711, and Wednesday's fresh 5-week highs at 1.2735/40.