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Forex: EUR/AUD selloff persists; approaching 1.2300

By FXstreet.com,  March 01, 2012, 01:34:00 PM EDT

FXstreet.com (San Francisco) - The Australian dollar continues to gain on its European counterpart this Thursday, with EUR/AUD now sliding to a fresh 7-day low of 1.2312 from an earlier high of 1.2424, recording a 0.80% loss so far on the day.

If the selloff continues, support is noted at the 1.2300 figure which is also confluent with the daily peak on 17 Feb and, below there, 1.2286 (8 Feb high). To the upside, resistance is seen at 1.2326, then 1.2358 (10 Jan 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

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