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23 May 2013
EUR/AUD posts a fresh 1.5-year high above 1.33
FXstreet.com (Barcelona) - Despite current weakness in Euro making a 2-day low against the USD, the single currency is having a fest against the Aussie, last at 1.3285, off recent fresh 1.5-year high at 1.3319, printed on the back of Fed chairman Bernanke's comments in early NY trade.
According to FXWW founder Sean Lee, “One big macro fund bought EUR/AUD in size” during the European trade, the analyst said, “and this also triggered buying in diverse crosses like EUR/GBP and EUR/CHF.” EUR/AUD is up +0.78% so far for the week, while +4.56% year to date, and +6.03% in last six months.
Immediate resistance to the upside for EUR/AUD shows at recent NY session weekly and 1.5-year highs 1.3319, followed by June 2011 lows at 1.3374, and mid-Feb 2011 lows at 1.3404. To the downside, closest support lies at current levels as London session highs 1.3272, followed by NY session lows/Friday's highs at 1.3220, and Tuesday's highs at 1.3210.
According to FXWW founder Sean Lee, “One big macro fund bought EUR/AUD in size” during the European trade, the analyst said, “and this also triggered buying in diverse crosses like EUR/GBP and EUR/CHF.” EUR/AUD is up +0.78% so far for the week, while +4.56% year to date, and +6.03% in last six months.
Immediate resistance to the upside for EUR/AUD shows at recent NY session weekly and 1.5-year highs 1.3319, followed by June 2011 lows at 1.3374, and mid-Feb 2011 lows at 1.3404. To the downside, closest support lies at current levels as London session highs 1.3272, followed by NY session lows/Friday's highs at 1.3220, and Tuesday's highs at 1.3210.