Forex: EUR/AUD looking for bids around 1.23 mark

FXstreet.com (Barcelona) - EURAUD cross is last at 1.23 round bids, around session lows area, where it finds buyers support as it is fourth time already for the session being, the cross has slightly bounce from 1.2297. Aussie strength is making the cross go lower, on the back of an overall USD weakness, which makes EURUSD also to go higher, but nevertheless not as higher as AUDUSD, that trades at fresh session highs 1.0377 while these lines are being written.

Plenty of uncertainty surrounding upcoming key risk events for next sessions in the form of RBA meeting minutes early in Tuesday Asian session, coupled with later's on Eurogroup meetings, what make most analyst think range trading will dominate till these variables are cleared, as next aid tranche for Greece is on the line for this mentioned Eurogoup meeting. 200 day SMA around 1.24 rounds keeps the cross under pressure after latest bounce from 10-week lows at 1.2160 past Wednesday peaked right below there.

Immediate support to the downside for EURAUD lies at Nov 09 highs/50% retrace of latest up leg 1.2160/1.24 at 1.2276/3, followed by Nov 06 lows/Nov 12 highs/61.8% Fib retrace of mentioned up leg at 1.2254/44, and Nov 07 lows/Nov 13 highs at 1.2215. To the upside, closest resistance shows at Friday's London session lows/current weekly starting price at 1.2320, followed by Nov 02 lows at 1.2360, and Thursday's highs/200 day SMA at 1.2399/1.2412.