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EUR/AUD dipping below key 1.44 handle

FXStreet (Guatemala) - EUR/AUD is trading at 1.4390, down -0.24% on the day, having posted a daily high at 1.4434 and low at 1.4389.

EUR/AUD dropped through below 1.44 handle on the back of recent developments in China from data releases there as well as domestic news in Australia coming in positive today. China’s inflation data came in line for CPI October year on year readings at 1.6% while month on month read lower than expectations by 0.1% at 0%. The PPI readings also missed by 0.2% at 2.2% year on year for October. Home loans for Australia however read -0.7% vs -1.0%.

EUR/AUD noteworthy levels

With spot trading at 1.4390, we can see next resistance ahead at 1.4417 (Daily 20 SMA), 1.4418, 1.4429 (Daily Classic PP), 1.4429 (Hourly 20 EMA) 1.4430 (Weekly Classic PP),1.4480 and 1.4520. Support below can be found at 1.4381 (Hourly 200 SMA), 1.4370 (Daily Classic S1), 1.4369 (Daily 100 SMA) and 1.4340.

China's inflation steady in October

China's Consumer Price Index (YoY) came in line with forecasts (1.6%) in October, while the MoM series came in at 0%, below expectations (0.1%). In terms of China's Producer Price Index (YoY), it came in at -2.2%, below forecasts (-2%) in October.
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AUD/JPY is trading at 99.00, up 0.07% on the day, having posted a daily high at 99.12 and low at 98.81.
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