Forex pairs in this Article » EUR/AUD
FXstreet.com (San Francisco) - The Australian dollar rallied to fresh intraday highs against the euro after the RBA decided to cut interest rates to 3.00% today. EURAUD dipped to as low as 1.2482 and currently trades around the 1.2500 mark, having found support in the 50-hr EMA (1.2491) and still limited below a 23.6% Fibonacci level at 1.2535. Should the EURAUD negative bias persist, support is offered at 1.2440 (June 29 high), 1.2390 (Sep 5 high) and 1.2355 (38.2% Fibo, 1.1603/1.2820 advance). The pair must overcome the 1.2540 resistance area (overnight peak) to test further resistance at 1.2580 (Oct 19 low), then 1.2640 (April 30 low).