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10 Dec 2014
EUR/AUD trades higher, Risk-off sentiment supports
FXStreet (Mumbai) - The single currency trades elevated against the Australian dollar in the early Asian hours, after the Aussie lost ground to the US dollar.
Currently, the EUR/AUD trades at 1.4928 levels, 0.08% marginally higher, compared to previous day’s close at 1.4922. The strength in the Euro persists after traders sought to risk-off environment amid falling equities and oil prices fuelling concerns over global economic recovery.
The gains in the EUR/AUD pair were also seen as AUD/USD dropped on softer Chinese price pressures print.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4976 (Dec 9 High) levels, above which gains could be extended to 1.5011 (May 2014 High) levels. On the flip side, support is seen at 1.4915 (20-day SMA), below which it could extend losses to 1.4875 (50-day SMA) levels.
Currently, the EUR/AUD trades at 1.4928 levels, 0.08% marginally higher, compared to previous day’s close at 1.4922. The strength in the Euro persists after traders sought to risk-off environment amid falling equities and oil prices fuelling concerns over global economic recovery.
The gains in the EUR/AUD pair were also seen as AUD/USD dropped on softer Chinese price pressures print.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4976 (Dec 9 High) levels, above which gains could be extended to 1.5011 (May 2014 High) levels. On the flip side, support is seen at 1.4915 (20-day SMA), below which it could extend losses to 1.4875 (50-day SMA) levels.