During yesterdays trading session EUR/AUD traded within the range of 1.4856-1.4986 and closed at 1.4972.
At 9:06 GMT today EUR/AUD was adding 0.12% for the day to trade at 1.4982. The pair touched a daily high at 1.5023 at 1:15 GMT, managing to breach the first resistance level of 1.5020.
Fundamental view
The preliminary annualized index of consumer prices (CPI) in Germany, the largest euro zone economy, probably accelerated to 1.4% in April from 1.3% in the preceding month. In monthly terms, the CPI probably decreased 0.1% this month, after consumer prices climbed 0.3% in March. The official data will be released at 12:00 GMT.
Higher-than-expected readings would certainly heighten the appeal of the 18-nation common currency.
Technical view
According to Binary Tribune’s daily analysis, in case EUR/AUD manages to breach the first resistance level at 1.5020, it will probably continue up to test 1.5068. In case the second key resistance is broken, the pair will probably attempt to advance to 1.5150.
If EUR/AUD manages to breach the first key support at 1.4890, it will probably continue to slide and test 1.4808. With this second key support broken, the movement to the downside will probably continue to 1.4760.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
