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19 Dec 2013
EUR/AUD fails to hold above 1.5500
FXstreet.com (Córdoba) - The EUR/AUD has been unable to move away from the 1.5540 – 1.5570 area. Hours ago traded above 1.5500 but it failed to hold and retreated. At the moment of writing trades at 1.5545, down 0.21% for the day.
Fresh highs since February 2010 for the EUR/AUD
During Wednesday's American session the pair tested levels above 1.5500 and after Fed's decision to taper jumped to 1.5575 hitting the strongest level in three and a half years. But after peaking it retreated quickly, back below 1.5500 as the Euro weakened across the board.
Technical levels
The pair trades near Wednesday's lows located at 1.5420; below the next support comes at 1.5330 and 1.5305 (December 3rd low). A return above 1.5500 could bring momentum back to the Euro. Resistance levels could be located at 1.5515, 1.5575 (December 17th high), 1.5600 and 1.5640.