by Tue, 30 Nov 2010 00:12:00 +0100
Forex: EUR/AUD resumes downmove, approaches 1.3600
FXstreet.com (Córdoba) - Even though both currencies, the Euro and the Aussie remain weak, the latter is gaining the struggle. Despite the brief recovery seen in the cross last week, the Australian dollar keeps dragging the price closer to its all time low set at 1.3555 last Thursday.
On Monday, EUR/AUD fell almost 140 pips and closed the NY session around 1.3625, posting a 0.67% daily loss. At time of writing, the pair continues to trade at the 1.3620/25 area ahead of Nikkei opening.
On the downside, next supports come at the 1.3600 zone, followed by the 1.3550/60 lows and then 1.3500, while on the upside, resistance levels lie around 1.3660 and 1.3700 ahead of 1.3750.
| Technical Analysis (2010-11-29 23:00 GMT) | |
|---|---|
EUR/AUD 1.3623/1.3629 - O: 1.3634 H: 1.3639 L: 1.3623 C: 1.3629 | |
| Trend | R3: 1.3707 |
 | R2: 1.3673 |
| R1: 1.3639 | |
| S1: 1.3559 | |
| S2: 1.3593 | |
| S3: 1.3627 | |
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