EUR-AUD prediction may 25 2012

forex trading outlook today -EUR-AUD prediction may 25 2012 : EUR/AUD is currently resting near Thursday's and week lows around 1.2837, losing a -0.49% since previous open in Asia-Pacific yesterday, and -1.13% since week started, coming from fresh 2012 highs Friday at 1.3028. EUR/USD weakness hitting lows from almost 2 years, and AUD resilience against USD, in 20 month highs above 82 (index), has driven the cross lower.

EUR/AUD has not managed to stay above previous 2012 highs, around the 1.2920 and 1.2880 as Tuesday's lows, breaking down during the London session, finally printing week lows at 1.2814 around early NY, with no major news on the horizon for the Asia-Pacific session, nor for the rest of global Friday, and Monday holiday in most parts of the world including Europe and the US. The cross pull backed that break down line, but was rejected and back to where it stays at the moment, still above previous lows.

Immediate support to the downside for EUR/AUD comes at recent levels as April 24 highs 1.2836, followed by May 15 lows 1.2785 and May 17 lows at 1.2772. For the upside, nearest resistance show at May 01 highs 1.2867, followed by May 22/23 lows 1.2882/3, and May 04/14 highs 1.2916/20.

Related Post: