Forex: EUR/AUD up and trading at 1.6225

Tue, Nov 24 2009, 06:21 GMT
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FXstreet.com (Sydney) – The EUR has steadily gained ground on the AUD and is trading at 1.6225. The pair opened at 1.6192, reached an intraday high of 1.6247, dropped to 1.6159 and has recovered ground. There is support for the pair at 1.6075 and resistance is at 1.6440. The likely trend is sideways.

The AUD had a mixed day following the general upward trend in offshore markets today. Earlier, a report showed that there was an increase in sales of existing houses in the US. This resulted in a rise in commodities. However, the dollar strengthened and rose against all majors including the EUR and the AUD.

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