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Forex: EUR/AUD hovers around 1.2600

By FXstreet.com,  June 14, 2012, 10:58:00 PM EDT

FXstreet.com (San Francisco) - EUR/AUD is trading in range between 1.2589 and 1.2620 this Friday in Asia after giving up about half of its previous day's gains overnight, closing down 0.3% on the day at 1.2598.

At the time of writing, the pair is quoted virtually unchanged from its starting price around the 1.2600 figure.

From the FXMarket Alerts Team : "Corrective bounce staged last session remains weak with current setback from yesterday's high of 1.2655 and bears will have to take out the 1.2453 support to resume broader downmove from 1.3028 high towards 1.2383/45 supports."

If EUR/AUD regains the upside, the FXMarket Alerts Team identifies significant levels of resistance at 1.2655 (14 Jun high), 1.2680 (11 Jun high) and 1.2720 (8 Jun high). To the downside, support lies at 1.2453 (12/13 Jun lows), 1.2383 (14 Mar low) and 1.2345 (9 Mar low).




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

Referenced Stocks:



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