EUR Trading Outlook (09-04-2014)
AUD/USD: With the AUD above the 61.8 Fib of 0.9758-0.8660 & day/week RSIs still providing positive momentum bulls are gaining confidence. They will be targeting late November high near 0.9450. A possible 0.9400 barrier & the looming OZ jobs report may temper the rally’s pace but for now it looks set to persist.
EUR/USD: The pair rallied on the back of USD weakness from 1.3741 open to a high of 1.3811. Intra day stops and options expires at 1.3750 & 1.3800 helped the pair pushed higher in NY session. However, offshore EUR/USD offers ahead of the 21-DMA helped cap the rally. ECB comments from last left the door opened for unconventional measures but needed more confirmation.
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