Back
3 Mar 2015
EUR/AUD: Steadied on 1.4380 support; RBA coming up
FXStreet (Guatemala) - EUR/AUD is currently trading at 1.4406 with a high of 1.4415 and a low of 1.43965.
EUR/AUD has been on the bid for the best part of this week so far and start of the month. The eurozone has been eyed with some better response to the global environment of late, improving in areas that have some analysts suspect that inflationary pressures, especially in Germany, could start to come into effect. Meanwhile of course, the QE for the ECB is likely to keep a lid on the euro with it plentiful in supply.
Today is about the RBA, and we will have news on their interest rate decision a little later today. Analysts are on the fence but it is widely anticipated that we will be seeing further easing from the central bank this year, and if it does not come today, there is speculation that a cut could come as soon as Q2, which may see any relief rallies limited in the Aussie. 1.4560 could be an area of resistance on any upside once 1.4480 is out of the way. To the downside, 1.4000 is immediate and obvious psychological target.
EUR/AUD has been on the bid for the best part of this week so far and start of the month. The eurozone has been eyed with some better response to the global environment of late, improving in areas that have some analysts suspect that inflationary pressures, especially in Germany, could start to come into effect. Meanwhile of course, the QE for the ECB is likely to keep a lid on the euro with it plentiful in supply.
Today is about the RBA, and we will have news on their interest rate decision a little later today. Analysts are on the fence but it is widely anticipated that we will be seeing further easing from the central bank this year, and if it does not come today, there is speculation that a cut could come as soon as Q2, which may see any relief rallies limited in the Aussie. 1.4560 could be an area of resistance on any upside once 1.4480 is out of the way. To the downside, 1.4000 is immediate and obvious psychological target.