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Forex pairs in this Article » EUR/USD (Moscow) - EUR/AUD is under selling pressure during Asian hours as the cross set the intraday low at 1.5132 after opening at 1.5173.

EUR/AUD sentiment turns sour

EUR/AUD may still correct higher during the day, but the general sentiment remains bearish. The cross is pressured by the dovish ECB and AUD rally against USD. Moreover, the Aussie is likely to benefit both in short and long term, if the traders indulge themselves into risk trades again. EUR/AUD have to return in the area above 1.5300 to negate the bearish short-term dynamics, which is unlikely today, as the EUR/AUD bulls need to take out the resistance of 1.5200 first. The the run below 1.5126 (last week’s low) will deepen the downside correction. On a fundamental basis, there is nothing of interest today, so the cross is left at the mercy of technical factors and speculative movements.

What are today’s key EUR/AUD levels?

Today's central pivot point can be found at 1.5232, with support below at 1.5131, 1.5073 and 1.4973, with resistance above at 1.5291, 1.5391, and 1.5450. Hourly Moving Averages are bearish, with the 200SMA at 1.5395 and the daily 20EMA at 1.5264. Hourly RSI is neutral at 48.44.
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