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EUR/AUD holding its ground on key 1.44 handle

FXStreet (Barcelona) - EUR/AUD is trading at 1.4407, down -0.06% on the day, having posted a daily high at 1.4420 and low at 1.4384.

After losing big ground last week, over 200pips, the pair is holding the 1.44 handle at the start of this week’s business with support coming back in for the Euro post the ECB’s stress test confirmation that came over the weekend. The end result being that the leaks from the media were in line and the shape of the European banking sector is palatable with none of the main banks causing any concerns and just 13 other banks of the 130 largest that were tested need to raise a relatively insignificant amount of money.

There isn’t any key domestic data for the Aussie until the new home sales prints later in the week but for sure there will be action in the FX space that will impact the pair before hand with the FOMC meeting. 1.44 is key while aiming to reclaim ground above the pivot in open trade with S1 at the mid point for the 1.43 handle protecting deeper space below the 1.43 handle.

EUR/AUD noteworthy levels

With spot trading at 1.4409, we can see next resistance ahead at 1.4420 (Daily High), 1.4434 (Daily Classic PP), 1.4455 (Hourly 100 SMA),1.4461 (Weekly Classic PP) and 1.4463 (Daily 20 SMA). Support below can be found at 1.4406 (Hourly 20 EMA), 1.4384, 1.4376 (Daily 100SMA) and 1.4354 (S1).

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