FXstreet.com (San Francisco) - After an early session dip sent EUR/AUD to a fresh historic low of 1.1891 following a period of consolidation, the cross is now trading back above the 1.1900 handle ahead of the closing bell in New York.
EUR/AUD is weighed by a broadly bid Australian dollar on a constructive tone of the RBA minutes in Asia. At the time of writing, the pairing is quoted at 1.1915 from 1.1977 late Monday, poised to close at its lowest price in the market’s history.
From here, attempts to rally may be met with selling interest at the 9-day EMA 1.2007. Above there, resistance comes in at 1.2133 (7 Feb low). Looking at the Daily chart, RSI continues to hover below 30, while CCI is threatening to cross back below the -100 mark, suggesting that bearish momentum in the medium term may be waning.
EUR/AUD is weighed by a broadly bid Australian dollar on a constructive tone of the RBA minutes in Asia. At the time of writing, the pairing is quoted at 1.1915 from 1.1977 late Monday, poised to close at its lowest price in the market’s history.
From here, attempts to rally may be met with selling interest at the 9-day EMA 1.2007. Above there, resistance comes in at 1.2133 (7 Feb low). Looking at the Daily chart, RSI continues to hover below 30, while CCI is threatening to cross back below the -100 mark, suggesting that bearish momentum in the medium term may be waning.
