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8 Jan 2015
EUR/AUD hits 6-Week Lows; falls below 100-DMA
FXStreet (Mumbai) - The single currency dived against the Australian dollar in the early European morning, extending losses for the fourth straight session, as the Aussie bulls take a lead verus the USD.
Currently, the EUR/AUD cross trades at 1.4583 levels, down -0.52% on the day, having posted a fresh six-week low at 1.4570 levels an hour ago. The EUR/AUD cross continues to slide after bearish German factory orders decelerated in November, more than market had expected.
The cross also remains pressured on renewed Aussie strength versus the US dollar after upbeat Oz building consents data released earlier in the day.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.46 levels, above which gains could be extended to 1.4667 levels. On the flip side, support is seen at 1.4570 levels, from here it to 1.45 levels.
Currently, the EUR/AUD cross trades at 1.4583 levels, down -0.52% on the day, having posted a fresh six-week low at 1.4570 levels an hour ago. The EUR/AUD cross continues to slide after bearish German factory orders decelerated in November, more than market had expected.
The cross also remains pressured on renewed Aussie strength versus the US dollar after upbeat Oz building consents data released earlier in the day.
EUR/AUD Technical Levels
The pair has an immediate resistance at 1.46 levels, above which gains could be extended to 1.4667 levels. On the flip side, support is seen at 1.4570 levels, from here it to 1.45 levels.