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28 Jan 2015
EUR/AUD sinks over 1%
FXStreet (Mumbai) - The single currency fell further against the Australian dollar, snapping three consecutive sessions of gains as the Aussie regained lost territory after a better than estimates Oz inflation reading.
Currently, the EUR/AUD cross fell -1.12% and traded at 1.4179 levels, inching towards intraday low of 1.4165 levels. The slide in the EUR/AUD cross is largely on the back of the Aussie strength as traders continue to digest the upbeat Aus CPI numbers. The trimmed mean CPI measure stood above expectations, rising 0.7% compared with the forecast 0.5% rise. Rising inflation cut speculations of a sooner than expected rate cut by the RBA, which lifted the Aussie.
AS of writing, AUD/USD trades higher by 1.01% at 0.8016 levels, while EUR/USD stood slightly lower by -0.10% at 1.1367 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4410 levels, above which gains could be extended to 1.4450 levels. On the flip side, support is seen at 1.4150 levels, from here it to 1.4123 levels.
Currently, the EUR/AUD cross fell -1.12% and traded at 1.4179 levels, inching towards intraday low of 1.4165 levels. The slide in the EUR/AUD cross is largely on the back of the Aussie strength as traders continue to digest the upbeat Aus CPI numbers. The trimmed mean CPI measure stood above expectations, rising 0.7% compared with the forecast 0.5% rise. Rising inflation cut speculations of a sooner than expected rate cut by the RBA, which lifted the Aussie.
AS of writing, AUD/USD trades higher by 1.01% at 0.8016 levels, while EUR/USD stood slightly lower by -0.10% at 1.1367 levels.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.4410 levels, above which gains could be extended to 1.4450 levels. On the flip side, support is seen at 1.4150 levels, from here it to 1.4123 levels.