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4 Dec 2014
EUR/AUD gained despite strong Australian data
FXStreet (Mumbai) - The single currency gained strength against the Aussie despite the release of a positive retail sales and trade balance data in Australia.
The EUR/AUD pair traded 0.46% higher at 1.4717 levels at the time of writing. Moreover, the AUD/USD pair fell to a fresh four-year low of 0.8358 today. The Aussie weakened despite Australian retail sales printing at 0.4% in October, compared to the expected print of 0.1%. Australia's trade deficit narrowed to AUD 1.132 billion in October from AUD 2.23 billion in September. Meanwhile, the EUR/USD pair has gained 0.08% today, after falling to a two-year low yesterday.
EUR/AUD Technical Levels
The pair has immediate resistance at 1.4764 and 1.4779 levels. Meanwhile, support is seen at 1.4706 (Oct 16 high), under which losses could be extended to 1.4633 (Nov 20 high).
The EUR/AUD pair traded 0.46% higher at 1.4717 levels at the time of writing. Moreover, the AUD/USD pair fell to a fresh four-year low of 0.8358 today. The Aussie weakened despite Australian retail sales printing at 0.4% in October, compared to the expected print of 0.1%. Australia's trade deficit narrowed to AUD 1.132 billion in October from AUD 2.23 billion in September. Meanwhile, the EUR/USD pair has gained 0.08% today, after falling to a two-year low yesterday.
EUR/AUD Technical Levels
The pair has immediate resistance at 1.4764 and 1.4779 levels. Meanwhile, support is seen at 1.4706 (Oct 16 high), under which losses could be extended to 1.4633 (Nov 20 high).