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5 Aug 2013
EUR/AUD off to 42-months highs on retail sales data
FXstreet.com (Chicago) - EUR/AUD continued on skyrocket rally as it accumulated 0.35% gains on Monday morning trading session on retail sales data release.
The Australian Bureau of Statistics released a flat growth in retail sales data for the month of June. The results failed to meet projected 0.4% and previous 0.1%, to deteriorate market participants perception on the Australian economy.
Price action indicated major highs as euro continued to strengthen against the Aussie. Shortly after the data was released, the pair peaked to 1.4980 highs to break resistance at 1.4975 (July 18th 2010 highs). Supports were set at 1.4909 (January 30 2010 highs), 1.4883 (February 2010 highs), 0.4804 (March 15th lows) and consequent resistances were seen at 1.5055 (April 2010 highs) and 1.5187 (February 2010 highs).
The Australian Bureau of Statistics released a flat growth in retail sales data for the month of June. The results failed to meet projected 0.4% and previous 0.1%, to deteriorate market participants perception on the Australian economy.
Price action indicated major highs as euro continued to strengthen against the Aussie. Shortly after the data was released, the pair peaked to 1.4980 highs to break resistance at 1.4975 (July 18th 2010 highs). Supports were set at 1.4909 (January 30 2010 highs), 1.4883 (February 2010 highs), 0.4804 (March 15th lows) and consequent resistances were seen at 1.5055 (April 2010 highs) and 1.5187 (February 2010 highs).