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5 Jul 2013
EUR/AUD dips to fresh weekly lows below 1.41
FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at 1.4118 off early NY session fresh weekly lows at 1.4060 printed on the back of ECB Draghi comments, and despite the fact the US was closed over holiday.
EUR/AUD down on Draghi's comments
EUR/USD, and EUR/AUD with it, had a massive drop breaking below the 1.29 and 1.41 marks respectively, following ECB chairman remarks pointing out that interest rates were expected “to remain at present or lower levels for an extended period of time,” Draghi said. The cross is down -0.87% for the week so far, also helped by recent Aussie strength.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at current levels as Monday's lows 1.4110, followed by NY session fresh weekly lows at 1.4060, and June 19 lows at 1.3993. To the upside, closest resistance shows at recent session highs/yesterday's lows 1.4130, followed by June 24 Asian session lows at 1.4166, and June 25 highs at 1.4255.
EUR/AUD down on Draghi's comments
EUR/USD, and EUR/AUD with it, had a massive drop breaking below the 1.29 and 1.41 marks respectively, following ECB chairman remarks pointing out that interest rates were expected “to remain at present or lower levels for an extended period of time,” Draghi said. The cross is down -0.87% for the week so far, also helped by recent Aussie strength.
EUR/AUD key technical levels
Immediate support to the downside for EUR/AUD lies at current levels as Monday's lows 1.4110, followed by NY session fresh weekly lows at 1.4060, and June 19 lows at 1.3993. To the upside, closest resistance shows at recent session highs/yesterday's lows 1.4130, followed by June 24 Asian session lows at 1.4166, and June 25 highs at 1.4255.