3 Feb 2015
EUR/AUD halts rally on possibility of ECB exiting troika
FXStreet (Mumbai) - The rally in the EUR/AUD pair has been halted on reports that the European Central Bank may exit the “troika” of international lenders that governs Greece’s bailout.
Aussie hurt by an interest rate cut
The surprise 25 basis point interest rate cut announced by the Reserve Bank of Australia led to a sharp fall in the Aussie across the board as investors ditched the currency in search of relatively high yielding currencies.
The EUR/AUD clocked a high of 1.4853 levels before easing-off slightly to trade at 1.4777 levels. The EUR came under pressure after the German newspaper reported the ECB is considering withdrawing from the "troika" of international lenders that governs Greece's international bailout.
EUR/AUD Technical Levels
The pair now trades 1.73% higher at 1.4784 levels. The immediate resistance is seen at 1.4853, above which gains could be extended to 1.49 levels. Meanwhile, support is seen at 1.4675 (50-DMA) and 1.4576 (100-DMA) levels.
Aussie hurt by an interest rate cut
The surprise 25 basis point interest rate cut announced by the Reserve Bank of Australia led to a sharp fall in the Aussie across the board as investors ditched the currency in search of relatively high yielding currencies.
The EUR/AUD clocked a high of 1.4853 levels before easing-off slightly to trade at 1.4777 levels. The EUR came under pressure after the German newspaper reported the ECB is considering withdrawing from the "troika" of international lenders that governs Greece's international bailout.
EUR/AUD Technical Levels
The pair now trades 1.73% higher at 1.4784 levels. The immediate resistance is seen at 1.4853, above which gains could be extended to 1.49 levels. Meanwhile, support is seen at 1.4675 (50-DMA) and 1.4576 (100-DMA) levels.