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11 Jun 2014
EUR/AUD making fresh lows for the year
FXStreet (Barcelona) - EUR/AUD is trading at 1.4437, down -0.10% on the day, having posted a daily high at 1.4460 and low at 1.4434.
Westpac Consumer Confidence and the Index improved at 0.2% and 93.2% respectively and hence a slightly stronger AUD with EUR/AUD making fresh year lows. In relation the EUR crosses now, Richard Franulovich, analyst at Westpac Banking Corporation ABN suggested to watch out for any news about yields and flows for EUR denominated money market funds. “The ECB's negative deposit rate raises the marginal cost of holding EUR vs all currencies but it is not certain how much will flow through to lower rates for end-borrowers and investors, of all stripes”. Next up, we have the labour market data tomorrow that will be keenly monitored as the key event for the Aussie this week.
EUR/AUD Levels
With spot trading at 1.4438, we can see next resistance ahead at 1.4439 (Yesterday's Low), 1.4455 (Daily Open), 1.4460 (Daily High), 1.4461 (Daily Classic S2) and 1.4473 (Hourly 20 EMA). Support below can be found at 1.4434 (Daily Low), 1.4397 (Daily Classic S3), 1.4383 (Weekly Classic S2), 1.4255 (Weekly Classic S3) and 1.3877 (Annual Low).
Westpac Consumer Confidence and the Index improved at 0.2% and 93.2% respectively and hence a slightly stronger AUD with EUR/AUD making fresh year lows. In relation the EUR crosses now, Richard Franulovich, analyst at Westpac Banking Corporation ABN suggested to watch out for any news about yields and flows for EUR denominated money market funds. “The ECB's negative deposit rate raises the marginal cost of holding EUR vs all currencies but it is not certain how much will flow through to lower rates for end-borrowers and investors, of all stripes”. Next up, we have the labour market data tomorrow that will be keenly monitored as the key event for the Aussie this week.
EUR/AUD Levels
With spot trading at 1.4438, we can see next resistance ahead at 1.4439 (Yesterday's Low), 1.4455 (Daily Open), 1.4460 (Daily High), 1.4461 (Daily Classic S2) and 1.4473 (Hourly 20 EMA). Support below can be found at 1.4434 (Daily Low), 1.4397 (Daily Classic S3), 1.4383 (Weekly Classic S2), 1.4255 (Weekly Classic S3) and 1.3877 (Annual Low).