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EUR/AUD off fresh 1.5-year highs below 1.35

FXstreet.com (Barcelona) - EUR/AUD is last at 1.3491, off yesterday's fresh 1.5-year highs at 1.3541, up +0.66% for the week so far, +6.27% year to date, and +8.25% in last 6 months. As IFR Markets analyst Andrew Spencer points out, it has been already 8 weeks of higher lows in the cross.

“EUR/AUD continues to march higher and barring any unexpected negative news from the EZ, my technical target at 1.38 looks very achievable,” said FXWW founder Sean Lee, reporting stop loss orders above the 0.9720 level in the AUD/USD. Private sector credit data in Australia came in line with expectations at +0.3%, slightly above last 3 months, leaving Aussie muted on the news.

Immediate resistance to the upside for EUR/AUD shows at recent session highs 1.3524, followed by yesterday's fresh 1.5-year highs at 1.3542, and Sept 2010 lows at 1.3629. To the downside, closest support lies at current levels as Wednesday's highs 1.3475, followed by Monday's highs at 1.3450, and Friday's highs at 1.3433.

AUD/JPY firm bounce off 97.00 support, sets eyes on 98.30

The Aussie/Yen is edging slightly higher in Asia trade, up 40 pips at 97.73 but still within the previous 5 day trading range between 97.00 and 98.30.
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