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EUR/AUD hit fresh 5-month low

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 1, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - The EUR/AUD pair fell to a fresh 5-month low of 1.4537 in Asia as the AUD witnessed a minor spike following the RBA’s decision to keep rates unchanged.

    Eyes German and EZ PMI data

    The traders are now eyeing the German and the Eurozone final PMI manufacturing number for November. Traders would be interested to see if the inflow of the new work ticked higher along with the new export orders.

    As of writing, the pair was offlows but still weak around 1.4555 levels. The minor uptick in the AUD post RBA rate decision appears to have stalled; courtesy of which the cross has recovered from the daily lows.

    EUR/AUD Technical Levels

    The immediate support is seen at 1.45, under which the cross could extend losses to 1.4317 (June 296 low). On the other side, resistance is seen at 1.4581 (Nov 25 low) and 1.4727 (10-DMA).
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