EUR/AUD resting up into thinner liquidity at 1.4560
FXStreet (Guatemala) – EUR/AUD is trading at 1.4562, up 0.01% on the day, having posted a daily high at 1.4567 and low at 1.4556.
EUR/AUD was traded around the EZ once European markets had digested the overnight rhetoric from RBA’s Governor and Stevens’ speech that had markets wash their hands of the Aussie. However, today’s ECB decision was fairly uneventful and analysts at TD Securities explained that there was nothing there to change their view on policy over the coming months and quarters. “The ECB is in cruise control for now”. Meanwhile, we are into thin holiday markets while RSI is in neutral territory at 58.50, down from it’s last hourly close at 63.88. We may not see much action here although we will keep an ear to the ground for the speech from Luci Ellis, Head of the Financial Stability Department at the Reserve Bank of Australia (RBA), to the 2014 Economic and Social Outlook Conference Hosted by the Melbourne Institute and The Australian, Melbourne
With spot trading at 1.4563, we can see next resistance ahead at 1.4567 (Daily High), 1.4579 (Daily Classic R3), 1.4603 (Yesterday’s High), 1.4645 (Weekly Classic R2) and 1.4708 (Monthly High). Support below can be found at 1.4561 (Daily Open), 1.4561 (Weekly High), 1.4560 (Weekly Classic R1), 1.4556 (Daily Low) and 1.4547(Hourly 20 EMA).
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