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16 Mar 2015
EUR/AUD attempts to recover from 21-month lows
FXStreet (Córdoba) - EUR/AUD is rising modestly on Monday and erased Friday’s losses. Recently the pair peaked at 1.3816 but it failed to hold an pulled back, finding support at 1.3770. Currently trades at 1.3790, almost 50 pips above today’s opening price.
Last week, a weak euro pushed EUR/AUD to the lowest weekly close since June 2013. Price bottomed at 1.3728. From there the euro is recovering at a modest pace. To the upside, resistance levels could be located at 1.3860 (Mar 13 high, Mar 11 low) and 1.3895.
The trend continues to favor the aussie, but so far the downside has been capped between 1.3720 and 1.3750; below the next support might lie at 1.3690 and 1.3620.
Last week, a weak euro pushed EUR/AUD to the lowest weekly close since June 2013. Price bottomed at 1.3728. From there the euro is recovering at a modest pace. To the upside, resistance levels could be located at 1.3860 (Mar 13 high, Mar 11 low) and 1.3895.
The trend continues to favor the aussie, but so far the downside has been capped between 1.3720 and 1.3750; below the next support might lie at 1.3690 and 1.3620.