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23 Jan 2015
EUR/AUD recovers on upbeat Euro Zone PMI
FXStreet (Mumbai) - The single currency recovered previous losses against the Australian dollar and trades flat during the mid-European session, after cheerful Euro zone manufacturing and services PMI numbers.
Currently, the EUR/AUD cross trades unchanged at 1.4162 levels, moving away from fresh daily lows posted at 1.4109 levels an hour ago. The EUR/AUD recovered from intraday lows after activity in the manufacturing sectors across the euro zone pointed to improving conditions in January.
The flash manufacturing PMI for the euro zone rose slightly to 51.0 points in January, up from 50.6 in December, remaining in expansion territory for 19 straight months and the region's services PMI improved as well, with the reading rising to 52.3 points this month, up from 51.6 in December.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4214 levels, above which gains could be extended to 1.4300 levels. On the flip side, support is seen at 1.4100 levels, from here it to 1.4081 levels.
Currently, the EUR/AUD cross trades unchanged at 1.4162 levels, moving away from fresh daily lows posted at 1.4109 levels an hour ago. The EUR/AUD recovered from intraday lows after activity in the manufacturing sectors across the euro zone pointed to improving conditions in January.
The flash manufacturing PMI for the euro zone rose slightly to 51.0 points in January, up from 50.6 in December, remaining in expansion territory for 19 straight months and the region's services PMI improved as well, with the reading rising to 52.3 points this month, up from 51.6 in December.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4214 levels, above which gains could be extended to 1.4300 levels. On the flip side, support is seen at 1.4100 levels, from here it to 1.4081 levels.