Stops have so far been triggered through 1.2676, and the 78.6% Fibonacci retracement level of the decline from 1.3014 to 1.1603 offers immediate resistance at 1.2710. The 1.2550 zone (Sep 18 high) offers support on dips, as does the 9-day EMA at 1.2515.
Regional stocks continue to trade with a positive bias, with the Nikkei up 53.63 points, or 0.6% at 8,800.50. Australia’s ASX is up 4.24 points, or 0.1%, at 4,442.80. Hong Kong is up 16.72 points, or 0.1% at 20,905.00.
At the time of writing, EUR/AUD exchanges 1.2670 and records a current weekly gain of 2.3%.