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12 Dec 2013
EUR/AUD more to go?
FXstreet.com (London) - EUR/AUD has reached a high of 1.5263 after extending its gains from 1.5020 yesterday.
The Euro has been bid across the board since ECB Executive Board member Coeure spoke up. Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the euro continues to strengthen modestly following the lack of a clear signal from the ECB that further monetary easing will soon be forthcoming while liquidity conditions continue to tighten. “ECB Executive Board member Coeure stated yesterday that the ECB sees no need to deploy “spectacular” measures such as large-scale asset purchases given its outlook for a gradual acceleration in consumer prices”. Up later for the AUD we have Australian employment Change and the Unemployment Rate for November, but meanwhile the currency is offered and has been unwound into the 0.90 handle vs the dollar. RSI (14) reads 66.25 with still some potential for the upside to go yet and the EMA’s are offering a bullish bias for the pair. Spot at the time of writing is 1.5248, some two big figures above the pivot point.
The Euro has been bid across the board since ECB Executive Board member Coeure spoke up. Lee Hardman, FX Analyst at the Bank of Tokyo Mitsubishi UFJ notes that the euro continues to strengthen modestly following the lack of a clear signal from the ECB that further monetary easing will soon be forthcoming while liquidity conditions continue to tighten. “ECB Executive Board member Coeure stated yesterday that the ECB sees no need to deploy “spectacular” measures such as large-scale asset purchases given its outlook for a gradual acceleration in consumer prices”. Up later for the AUD we have Australian employment Change and the Unemployment Rate for November, but meanwhile the currency is offered and has been unwound into the 0.90 handle vs the dollar. RSI (14) reads 66.25 with still some potential for the upside to go yet and the EMA’s are offering a bullish bias for the pair. Spot at the time of writing is 1.5248, some two big figures above the pivot point.