AUD/USD finds support at 0.6833 after rebounding from seven-month lows, while EUR/AUD faces resistance at its 100-day moving average of 1.6240 amid mixed Chinese inflation data.
AUD/USD rebounded from a seven-month low on dip buying near technically oversold levels, with support at 0.6833 and resistance at 0.7039. Mixed Chinese data (CPI slowing to 0.7% yoy, PPI accelerating to 5.7% yoy) and upcoming Australian confidence surveys leave the direction balanced, though the oversold bounce argues for near-term stabilisation.
EUR/AUD remains capped by its 100-day moving average at 1.6240, suggesting limited upside for the euro against the Aussie while AUD/USD rebounds from oversold levels. This caps any euro strength relative to the Australian dollar in the near term.
The AUD/USD pair has staged a recovery from a seven-month low, supported by dip buying near technically oversold levels. While the pair trades within an overnight range of 0.6856 to 0.6903, market participants are now looking toward upcoming Australian business and consumer confidence data. Meanwhile, EUR/AUD remains constrained by its 100-day moving average at 1.6240.
The pair bounced from a seven-month low because buyers stepped in near technically oversold levels, with support now seen at 0.6833 and resistance at 0.7039.
The cross is capped by its 100-day moving average at 1.6240, while the Australian dollar is rebounding from oversold conditions.