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2 Mar 2015
EUR/AUD jumps to fresh highs above 1.4400 on upbeat Euro Zone data
FXStreet (Mumbai) - EUR/AUD gave back previous gains and fell back in red during the European session, as the Australian dollar regained lost ground versus the shared currency.
EUR/AUD supported above 1.44 handle
Currently, the EUR/AUD cross trades higher by 0.53% at fresh session highs of 1.4409, recovering from day’s low previously posted at 1.4319 levels. The cross snapped last week’s losses and inched higher mostly driven by losses in the Aussie. The Australian dollar lost strength against the euro after weaker than expected Oz manufacturing raised expectations of another rate cut ahead of RBA’s policy statement tomorrow.
On the other hand, Euro remained largely unchanged versus the AUD at higher levels, despite better than estimates German and EMU manufacturing PMIs which gained traction in February.
At the moment, the AUD/USD pair lower by -0.47% at 0.7770. While EUR/USD trades flat at 1.1195 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4442 levels, above which gains could be extended to 1.4491 levels. On the flip side, support is seen at 1.4363 levels, from here it to 1.4319 levels.
EUR/AUD supported above 1.44 handle
Currently, the EUR/AUD cross trades higher by 0.53% at fresh session highs of 1.4409, recovering from day’s low previously posted at 1.4319 levels. The cross snapped last week’s losses and inched higher mostly driven by losses in the Aussie. The Australian dollar lost strength against the euro after weaker than expected Oz manufacturing raised expectations of another rate cut ahead of RBA’s policy statement tomorrow.
On the other hand, Euro remained largely unchanged versus the AUD at higher levels, despite better than estimates German and EMU manufacturing PMIs which gained traction in February.
At the moment, the AUD/USD pair lower by -0.47% at 0.7770. While EUR/USD trades flat at 1.1195 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4442 levels, above which gains could be extended to 1.4491 levels. On the flip side, support is seen at 1.4363 levels, from here it to 1.4319 levels.