Forex: EUR/AUD breaking above fresh 1-month highs 1.2500

FXstreet.com (Barcelona) - With weak data coming out of Australia in previous minutes, taking AUDUSD to fresh session and 2-week lows, and EURUSD moving higher so far in the session, EURAUD cross is breaking above 1.2500 to 1-month highs, last at 1.2506, a +0.43% higher from previous weekly close Friday.

As FXWW founder Sean Lee puts it: "Looks like stops triggered above 1.2500," the analyst says, finding "Next technical resistance levels are a daily high at 1.2535 and a 61.8% Fibo at 1.2570." Next HSBC final manufacturing PMI China at 01:45 GMT might bring some more volatility to Aussie, and thus further affecting EURAUD, with EURUSD now above 1.30 and making fresh session highs.

Once above current levels as immediate resistance from Oct 11 lows, follow Oct 31 highs at 1.2537, and mentioned Fibo level and Oct 19 lows at 1.2570/9. To the downside, nearest term support lies at Friday's highs 1.2492, followed by Thursday's highs and today's opening price at 1.2458, and Nov 22/23/27 highs at 1.2423.