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EUR/AUD prints new multi year highs above 1.3500

FXstreet.com (Barcelona) - It’s been volatile Asia session for the EUR/AUD, at one point trading as high as 1.3515 (highest level since Oct ’11) but so far failing to maintain earlier strength and sitting 14 pips at 1.3413.

From a technical perspective, both short term moving averages and the RSI (14) remain in bullish set up, which could help to keep pullbacks limited. Furthermore, given the strong uptrend in the pair, the RSI (14) will tend to drop towards the 60 level very quickly on any sort of short term correction. This is also a bullish development that will allow momentum indicators to get out of overbought territory in the course of a few days.

The FXStreet.com Trend Index remains slightly bullish on the daily chart, while the ob/os index remains overbought. Initial support sits at 1.3373 (previous day low), followed by 1.3321 (the 9dma). First resistance sits at 1.3458 (bearish supply candle on 1 hour chart), followed by 1.3515 (high of session).

EUR/USD edging towards resistance at 1.3000

The EUR/USD is drifting higher during the Asia session, up 20 pips at 1.2959 and sitting just below key resistance located at 1.3000. It will be another busy economic session out of Europe, with a some key EU Confidence reports being released later in the day.
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Nikkei index below 14000

The Nikkei index today has posted fresh 3-week lows at 13879 in early Tokyo trade, last at 13913 for the lunch break, down -2.75% for the day, adding more than -13% since past Thursday's fresh 5.5-year highs shy of the 16k points mark.
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