EUR/AUD glued to support on gravity pull

FXstreet.com (Chicago) - EUR/AUD stalls despite Aussie’s strength within the past hour while accumulating 0.23% daily losses so far.

Price action indicates the pair trades at 1.4492 between supports at 1.4490 (June 19th highs) ahead of 1.4459 (July 12th highs) and 1.4419 (August 11th lows). On the upside, resistances are set at1.4531 (August 12th highs), 1.4578 (March 21st 2010 lows) followed by 1.4611 (August 13th highs).

The FXstreet.com trend index reports the pair as strongly bearish on one-hour time frame analysis. The pair still trades within 3-year peaks with short-term timeframes indicating the price is below EMA20.

Aug 15, 2013

Session Recap: USD selling off on Japan corporate tax talks

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Aug 15, 2013

S&P 500 correcting, but targets 2% - 4% higher still in play

The talk of Fed “tapering” is weighing on US stocks once again. Unlike the tapering-related June/July 7%+ sell-off, though, the current pullback has been very mild – and thus bullish (so far). Upside possible, if not likely in stocks, yields and the DXY in the short-term.

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