“Break above 1.2410 in EUR/AUD would be very bullish,” says IFR analyst John Noonan in his twitter account. The cross is bouncing from yesterday's lows at 1.2304, making the daily high at 1.2401 by early NY, where it started a shallow retrace back to recent session lows at 1.2366, for then attempting again breaking above mentioned hard selling price zone around the 1.24. EUR/AUD is up for the week by +0.69%.
Immediate resistance to the upside shows at recent session/Nov 15 highs/200 day SMA 1.2400/15, followed by Oct 29 lows at 1.2450, and Oct 31 highs at 1.2534. To the downside, closest support lies at recent session lows/Tuesday's highs 1.2366/59, followed by yesterday's lows at 1.2300, and Monday/Tuesday lows/Nov 09 highs at 1.2260/70.
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