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EUR/AUD double dips above 1.4500

FXstreet.com (Barcelona) - The EUR/AUD foreign exchange cross rate is last trading at 1.4610 off recent session and weekly high at 1.4626, bouncing from mid London session double weekly low at 1.4460 when Aussie started to strongly slide.

EUR/AUD finds buyers above 1.45 for first time in 2 weeks

The cross has managed to bottom against most expectations, as many analyst were recently calling for a bearish continuation, although massive Aussie weakness following reportedly selling interest in AUD/USD above 0.9190 worked against it. EUR/AUD is up +0.72% for the week so far.

EUR/AUD key technical levels

Immediate support to the downside for EUR/AUD lies at current levels as Tues/Wed's highs 1.4601, followed by Monday's highs at 1.4558, and Tuesday's lows at 1.4530. To the upside, closest resistance shows at recent session/weekly highs at 1.4627, and August 08 lows at 1.4665.

Session Recap: Suddenly everything blown up

Once upon a day, investors were trading in another summer day with USD advances in low volume, but suddenly everything blown up. The USD lost its earlier gains, the Gold rallied, US bonds jumped to 2-year highs and Wall Street performed its worst day weeks.
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DXY posts bearish engulfing candle after bad manufacturing survey

The US Dollar Index (DXY) traded higher following most of the US data releases Thursday, but reacted very bearishly to a big miss on the Philly Fed Manufacturing Survey at 14:00 GMT.
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