EUR-AUD Prediction June 19 2012

forex trading outlook today - EUR-AUD Prediction June 19 2012 : EUR/AUD is currently at 1.2452, off fresh 3-month lows reached Monday by mid NY session, as "real money funds sell large amount of EUR/AUD," according to John Noonan from IFR Markets. The cross is lower by -0.67% from previous weekly close Friday, more than -2.05% for the month of June so far.

we may see EUR/AUD continue its slide started in mid-May. Daily technical studies indicate EUR/AUD's move lower can continue. Daily RSI and Stoch studies still show negative momentum with no signs of diverging," the analysts says. The cross is higher for the current Asia-Pacific session, bouncing from session lows at 1.2425, and near session highs, once RBA minutes have been published with not a major reaction for the Aussie.

Immediate resistance to the upside for EUR/AUD comes at Jan 30 highs 1.2477, followed by March 08 highs/June 15 lows at 1.2520, and March 12 highs/June 12-13 lows at 1.2550. For the downside, closest support shows at recent session lows 1.2423, followed by yesterday's and fresh 3-month lows at 1.2395, and March 09 lows at 1.2347

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