Morning all, apologies for my absence over the last few days, ….sitting down earlier this pairing caught my eye first and now the cross has slipped below the 100 day MA around 1.2198 we could see a retest down through 1.2100 again.
Support wise there’s yesterday’s lows of 1.2173 and the Aug 30/31 lows around 1.2100/30, but more significant perhaps is the 61.8% fibonacci retracement of the August-October rally coming in around 1.2073.
Worse than expected NAB confidence and business conditions overnight have been largely ignored in AUD/USD terms, with Eurozone woes likely to keep pressure on the cross’ downside for the near future barring some joyous news on the peripheral european states
EUR/AUD’s sitting around 1.2185 after Asian session lows of 1.2170
AUD/USD’s currently finding support around the tenkan line at 1.0405 and there’s talk of sovereign bids lurking around 1.0400 which are likely to soften any major collapse, despite the ASX coming under heavy pressure earlier.
Larger bids sit down at 1.0360, with sell stops below through 1.0350 ahead of strong tech support around the 200 day MA at 1.0327
