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1 Nov 2013
EUR/AUD under pressure as Aussie catches a bid on bullish Chinese PMI data
FXstreet.com (Barcelona) - EUR/AUD is trading near the session lows as better than anticipated Chinese PMI data points have pushed the Aussie Dollar higher initially.
EUR/AUD traders have the bullish Chinese PMI data – let’s see if the downside pressure persists
The Chinese PMI data points have been released and came out ahead of expectations. The data is weighing down the EUR/AUD significantly.
Technical outlook for EUR/AUD
Technicians say EUR/AUD broke through short-term support at last Wednesday’s low of 1.4445 and has continued tumbling. The next level of support comes in at 1.4278. Resistance comes in at horizontal line at 1.4418 and is backed up by Tuesday’s high at 1.4528.
EUR/AUD traders have the bullish Chinese PMI data – let’s see if the downside pressure persists
The Chinese PMI data points have been released and came out ahead of expectations. The data is weighing down the EUR/AUD significantly.
Technical outlook for EUR/AUD
Technicians say EUR/AUD broke through short-term support at last Wednesday’s low of 1.4445 and has continued tumbling. The next level of support comes in at 1.4278. Resistance comes in at horizontal line at 1.4418 and is backed up by Tuesday’s high at 1.4528.