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5 Jan 2015
EUR/AUD pressured down towards 1.4700
FXStreet (Guatemala) - EUR/AUD is trading at 1.4782, down -0.28% on the day, having posted a daily high at 1.4860 and low at 1.4703.
EUR/AUD has been a choopy trade off at the start of this week in Asia with liquidity returning after the bank holidays. The Euro has been pressured lower making fresh yearly lows while the Aussie is contained in a relatively tighter range although remaining in negative territory on the 0.80 handle. 1.4840 marks the resistance for the cross ahead of 1.4980, 1.5080 and 1.5120 while the crosses bears target 1.47 the figure
For the cross, risks obviously lie with the RBA’s action over a worsening Australian economy, global commodity prices and a slowing China, but also the developments in Greece are a continuing concern. However, the concern that a Greek crisis poses systemic risk of the euro area as a whole has lessened, as noted by analysts at Brown Brothers Harriman. “As was the case before, and it remains true now--inside EMU is difficult for Greece, but outside would be hellish”.
EUR/AUD has been a choopy trade off at the start of this week in Asia with liquidity returning after the bank holidays. The Euro has been pressured lower making fresh yearly lows while the Aussie is contained in a relatively tighter range although remaining in negative territory on the 0.80 handle. 1.4840 marks the resistance for the cross ahead of 1.4980, 1.5080 and 1.5120 while the crosses bears target 1.47 the figure
For the cross, risks obviously lie with the RBA’s action over a worsening Australian economy, global commodity prices and a slowing China, but also the developments in Greece are a continuing concern. However, the concern that a Greek crisis poses systemic risk of the euro area as a whole has lessened, as noted by analysts at Brown Brothers Harriman. “As was the case before, and it remains true now--inside EMU is difficult for Greece, but outside would be hellish”.