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18 Jul 2013
EUR/AUD stubbornly heading towards 1.43
FXstreet.com (Barcelona) - EUR/AUD has regained its bullish tone along the Asian session, mainly assisted by broad-based weakness in the Australian Dollar, with current price exchanging hands at 1.4266 spot vs 1.4196 NY close.
EUR/AUD technical levels
The resistance mean at 1.44 vicinity continues to repel prices during the June/July period, so far having failed in 3 occasions. If buyers can engineer enough strength to clear now the 1.43 level - upswing from July 17 - that would allow price to set new targets towards 1.4360 - origin of July 16 sell off - ahead of the 1.44/4450 impregnable zone. On the downside now, the EUR/AUD finds decent support between 1.4180/4200 - July 16/17 double floor - ahead of deeper retracement to 1.4080 - July 11 low -.
EUR/AUD technical levels
The resistance mean at 1.44 vicinity continues to repel prices during the June/July period, so far having failed in 3 occasions. If buyers can engineer enough strength to clear now the 1.43 level - upswing from July 17 - that would allow price to set new targets towards 1.4360 - origin of July 16 sell off - ahead of the 1.44/4450 impregnable zone. On the downside now, the EUR/AUD finds decent support between 1.4180/4200 - July 16/17 double floor - ahead of deeper retracement to 1.4080 - July 11 low -.