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Forex: EUR/AUD breaks below 1.26 on Euro weakness

By FXstreet.com,  January 15, 2013, 05:47:00 PM EDT

FXstreet.com (Barcelona) - EUR/AUD lost today a -0.52% from yesterday's Asia-Pacific open and for the week, reaching a fresh weekly low at 1.2568, weighed on Euro weakness as EUR/USD dropped hard thru the 1.33 handle on comments from EU Junker saying Euro levels were too high, and Spanish PM Rajoy ruling out the bail out option.

For the session ahead there will be few minor risk events, starting in lees than 1 hour from here at 23:30 GMT Westpac consumer sentiment, followed 2 hours later by New motor vehicle sales for Australia. Euro is still strongest major currency for last 2 trading days, but is now much closer to following one JPY, while Swiss Franc has gone to weakest one.

Immediate support to the downside for EUR/AUD lies at recent weekly lows 1.2568, followed by Jan 08 highs at 1.2531, and Jan 03 lows at 1.2441. To the upside, nearest term resistance shows at Monday's lows 1.2621, followed by Dec 28 lows at 1.2671, and Monday's weekly highs at 1.2711.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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