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EUR/AUD breaks below 1.4370

FXStreet (Córdoba) - The euro is falling against commodity currencies on Tuesday and reached the lowest level in almost a week against the Australian dollar.

EUR/AUD rose during the Asian session to 1.4439, strongest level since Friday but then reversed sharply and broke below the important support 1.4370 (Nov 7, 10 low) and declined to 1.4350, the weakest since November 5.

EUR/AUD technical levels

The pair holds a bearish tone as it consolidates below the 1.4370 area, that has now become a resistance to watch. Above here the next resistance might lie at 1.4440 (daily high) and above at 1.4485/90 (Nov 7 high). On the downside, support could be located at 1.431/15 (Oct 7 low) and below at 1.4270 and 1.4245.

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