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EUR/AUD drops 40 pips but 1.41 handle holds up

FXStreet (Guatemala) - EUR/AUD is trading at 1.4109, down -0.15% on the day, having posted a daily high at 1.4147 and low at 1.4094.

EUR/AUD dumps onto 1.41 the figure and managed to penetrated the handle, albeit short-lived reaching only as far as the bulls would allow in the 0.0090’s. Data has been favourable to bears through the Private capital expenditure (Q2) in Australian that came at +1.1% vs -0.3% expected. Next up, we also get German CPI and unemployment. Analysts at Rabobank explained this is seen at -5K, while inflation is expected flat MoM and 0.8% YoY. " In Europe we will also get M3 money data, where consensus is just 1.5%, and 1.3% 3MMA. There are also the Eurozone confidence surveys, and the ECB’s Liikanen is speaking. Obviously these crowd will be watched these with baited breath".

EUR/AUD hourly levels

Current price is 1.4109, with resistance ahead at 1.4131 (Hourly 20 EMA) and 1.4146 (Weekly Classic S1). Next support to the downside can be found at 1.4094, 1.4078 (Weekly Classic S2) and 1.4064 (Daily Classic S2).

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