AUD,NZD/EUR/USD/FXWW News/Technical Analysis

EUR/AUD: Strong resistance near 1.4350

Have a look at the weekly chart and you will see a line of 3 highs across from 1.4350 which will provide some solid resistance.

  1. Hey Sean,

    Good day to you..

    What happened to FXWW303..Haven’t received but s few tweets from him/her.

    Just thought I would see if they are still an active trader.

    Tks
    Don

  2. Yeah, 1.4341 was the 2011 high, a clean move though that area could target the 100 week ma around 1.54. Picking tops on this pair is a tough road and I will probably leave that game to others unless something out of the ordinary happens. It very hard for me to buy a pair that has had this kind of move but if the 1.4230/50 area holds on a test it might be worth a buy. To me the pain trade is higher.

  3. Morning Don, he’s interbank trader so very busy. Puts free stuff on Twitter so if he’s flat chat then less likely to populate that and only feed the premium stuff. I’ll talk to him later today and see if we can get more of the good free stuff 🙂

  4. I’m reading that the dip last night wasn’t on particularly great volume meaning a retracement on all of these pairs is more than likely.
    Given the hammering the EURUSD took last night surely it’s going to come back a bit, that should also drag the EURAUD up and if that 1.4350 cracks it could take other EUR crosses with it.
    Given the US only traded for 3 hours after the announcement my guess is that the sell off continues in Asia and possibly Europe (although i think that could see the start of the EUR retracement) before US traders come in and reassess their sell off. What do you think?

  5. Sounds reasonable Keir, although Asia does have a tendency at times to immediately reverse any overnight moves. It will probably be range-bound and quiet

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