FXstreet.com (San Francisco) - EUR/AUD is trading at fresh 4-month highs as the Australian dollar comes under renewed pressure after mixed AU housing and retail sales data, which did not significantly alter market RBA OCR expectations.
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%.
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%.
